UK firm buys Apollo stake for $100 mn

British private equity firm, Apax Partners, is investing USD 100 million for an 11 per cent stake in India's Apollo Hospitals Enterprises to take advantage of the fast-growing healthcare industry.

The Apollo Group founded by Prathap Reddy in 1983 operates more than 40 sites and is stated to be Asia's largest healthcare group.

According to a report in a newspaper, Apax already co-owns General Healthcare Group, the biggest private operator in the UK, alongside the South African firm Netcare and recently sold its stake in Healthcare at Home, a leading domestic care provider, to Hutton Collins.

(Source: Economic Times)

PE Texas, Apax to buy stake in Patni

Private equity firms Texas Pacific Group and Apax Partners are close to buying some of the founders' stake in India's Patni Computer Systems Ltd, a newspaper reported on Monday, citing unnamed sources.

Gajendra and Ashok Patni, two of the three brothers who founded the software services firm, are looking to sell their stake, local media had earlier reported.

Their holding in the company totals to about 29 per cent. The agreement between one of the private equity partners and the Patni brothers is likely to be signed next month, the media said.

A spokeswoman for New York-listed Patni, which counts General Electric Co and ABN AMRO among its clients, said the company had no comment to make on the report. Chairman and Chief Executive Narendra Patni, who holds about 15 per cent of the company, will buy out a part of the stake on offer while the private equity firms will pick up the remaining, the daily said.

(Source: Economic Times )