HealthCare Global Enterprises transfers entire stake holding in HCG Regency Oncology Healthcare

New Delhi: HealthCare Global Enterprises Limited has informed the BSE that the company has entered into a Share Purchase Agreement with Regency Hospital Limited (RHL) and HCG Regency Oncology Healthcare Private Limited (HCG Regency) on March 28, 2018, relating to the sale/transfer of shareholding of the Company in HCG Regency to RHL.

"The Company has received INR 21,23,17,382 (Indian Rupees Twenty-One Crore Twenty-Three Lakh Seventeen Thousand Three Hundred and Eighty-Two) as consideration for the sale of 1,54,27,781 (One Crore Fifty-Four Lakh Twenty-Seven Thousand Seven Hundred and Eighty-One) equity shares of INR 10 each, representing 51% of the share capital of HCG Regency," said the company statement.

"In view of the sale/transfer of entire shareholding of the Company in HCG Regency to RHL, the Company has ceased to be a shareholder of HCG Regency, effective from the close of business hours of 28th March 2018; and accordingly, HCG Regency ceases to be a subsidiary of the Company effective from 29th March 2018. Pursuant to this, the Joint Venture Agreement dated November 22, 2016, and amendments made thereof, entered into by the Company, HCG Regency, and RHL have been terminated," the statement added.

Below is the attachment for the same.