IHH gains full control of RGE

PETALING JAYA: IHH Healthcare Bhd has agreed to buy out the remaining stake in Ravindranath GE Medical Associates Private Ltd (RGE) held by Dr Ravindranath Kancherla and his affiliates (Ravi Group) for 7.4 billion rupees.

The deal will be completed via IHH’s wholly owned subsidiary, Gleneagles Development Private Ltd (GDPL), and entails the purchase of the entire 24.53% shareholding held by Ravi Group in RGE. The acquisition raises GDPL’s stake in RGE to 98.17%.