Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, 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.
India's largest private sector power producer, Tata Power Company, has called off its plan to sell 15 per cent stake in two special purpose vehicles (SPVs) owning coal mines in Indonesia to private equity (PE) firm Olympus Capital for $300 million (Rs1,392 crore).
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Arysta, the target, is a leading crop protection and life sciences firm.
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