Rumor suggests potential acquisition discussions between Nayara and Sahyadri; Departure of Apollo Global India's leading figure
In the dynamic world of Indian business, several significant moves are on the horizon. One of the most notable developments is the potential sale of Rosneft's 49.13% stake in Nayara Energy. The potential buyer, Reliance Industries Ltd. (RIL), is in preliminary talks with Rosneft to acquire this stake. If successful, this deal would propel Reliance to the position of India's largest oil refiner, surpassing Indian Oil Corporation (IOC), and significantly expand its presence in fuel retailing [1][2][3][4].
However, the negotiations are still in their early stages and face challenges, primarily due to valuation disagreements. Initially, Rosneft valued Nayara Energy at around USD 20 billion, but the asking price has since been lowered to approximately USD 17 billion (approximately Rs 1.42 lakh crore), a figure some potential buyers consider high [4].
Meanwhile, in the healthcare sector, Manipal Health is reportedly leading the race for Sahyadri Hospitals. Canada's OTPP has recently exited its stake in Sahyadri Hospitals, potentially paving the way for Manipal Health to make a move. The specific details of the acquisition are yet to be disclosed [5].
Separately, Apollo Global's India head is planning a high-profile career change, according to media reports. The nature of this change is not specified in the available information [6]. Apollo Global and Hero Fincorp, backed by ChrysCap, have recently received Securities and Exchange Board of India (SEBI) nod for their Initial Public Offerings (IPOs) [7].
Other notable mentions in the news include Warburg Pincus, VIP Industries, Sahyadri Hospitals, and Tata Capital. Additionally, Novo Holdings is considering a second hospital deal in India, following its acquisition of Fortis Healthcare in 2019 [8].
In the midst of these potential deals, Manipal Health, Fortis, Manjushree Technopack, General Catalyst, and several other entities continue to make headlines, shaping the Indian business landscape in various sectors. The developments serve as a testament to the vibrant and evolving nature of the Indian economy.
[1] https://www.livemint.com/companies/news/reliance-industries-in-talks-to-buy-rosneft-s-49-13-stake-in-nayara-energy-11629056502074.html [2] https://www.thehindubusinessline.com/companies/oil-and-energy/reliance-industries-in-talks-to-buy-rosnefts-stake-in-nayara-energy/article36274749.ece [3] https://www.reuters.com/business/energy/reliance-industries-in-talks-to-buy-rosnefts-stake-in-nayara-energy-2021-07-01/ [4] https://www.bloombergquint.com/business/reliance-industries-in-talks-to-buy-rosnefts-stake-in-nayara-energy [5] https://www.livemint.com/companies/news/manipal-health-acquires-sahyadri-hospitals-11629103164399.html [6] https://www.moneycontrol.com/news/business/apollo-global-india-head-set-for-high-profile-switch-media-reports-7232931.html [7] https://www.livemint.com/companies/news/apollo-global-hero-fincorp-get-sebi-nod-for-ipo-11628922519247.html [8] https://www.livemint.com/companies/news/novo-holdings-considers-second-hospital-deal-in-india-11629053015817.html
- The potential acquisition of Sahyadri Hospitals by Manipal Health, following Canada's OTPP exit, underscores the ongoing activity in the health-and-wellness sector of Indian business.
- Concurrently, the finance sector is abuzz with news of Apollo Global and Hero Fincorp receiving approval for their Initial Public Offerings (IPOs), affirming the active role of finance in shaping the business landscape of India.
