Stakeholders Empowerment Services (SES), a corporate governance research and proxy advisory firm, has greenlighted hospital chain Aster DM Healthcare Limited (NSEI:ASTERDM)'s plans to divest its Gulf business, stating that there were no major concerns. This development comes ahead of the e-voting for two resolutions that end on January 22. Earlier, another voting advisory firm, Institutional Investors Advisory Services (IiAS), had opposed Aster's plans, raising concern over lack of clarity on the utilisation of sale proceeds that contributes 75% to its revenues.

On January 15, 2024, Aster DM Healthcare informed the stock exchanges that it intends to distribute 70-80% of the upfront consideration of $903 million as dividend to its shareholders. The dividend distribution would be in the range of INR 110-120 per share. In November 2023, Aster DM had announced its plans to sell its wholly-owned subsidiary, Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.

Alpha GCC is 65% owned by Gulf-based private equity firms led by Fajr Capital and the remaining 35% is held by promoter group Moopen family. Alpha GCC will be owned by the promoter group of Aster India and funds managed by Fajr Capital Advisors. Of the total $1.01 billion, $903 million is payable at closing and up to $98.8 million is subject to certain contingent events.