Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) signed a definitive agreement share purchase agreement to acquire remaining 50% stake in Apollo Gleneagles Hospital Limited from Gleneagles Development Pte Ltd for INR 4.1 billion on November 11, 2020. Under the terms of agreement, Apollo Hospitals will pay consideration in cash for acquiring 54.68 million shares of Apollo Gleneagles Hospital. Post completion, Apollo Hospitals will hold 100% stake in Apollo Gleneagles Hospital. Apollo Hospitals Enterprise financed the transaction by way of raising further issue of securities on a preferential basis and or through Qualified Institutional Placement or any equivalent capital raising method for a sum of upto INR 15 billion. In January, AHEL has raised equity capital of INR 11.7 billion via QIP and part of this will be deployed towards this transaction. For year ended March 31, 2020, Apollo Gleneagles Hospital had turnover of INR 7.2 billion and total assets of INR 3.6 billion. The Board of Directors of Apollo Hospitals in their meeting held on November 11, 2020 have approved the transaction. Pending execution of the said agreement and completion of the other allied conditions, no effect of the acquisition has been given in these financial results. Transaction is expected to close on or before 15th December 2020. As on February 12, 2021, the long stop date is February 28, 2021. As on February 13, 2021, Apollo Hospitals Enterprise Limited announced that the transaction is expected to complete over the next 30 to 45 days. Shardul Amarchand Mangaldas acted as legal advisors to Apollo Hospitals Enterprise Limited while Anand Mehta of Khaitan & Co acted as legal advisors to lIHH Healthcare Berhad (KLSE : IHH) on the transaction.