Johannesburg - Life Healthcare Group Holdings [JSE:LHC]
announced on Monday that it has signed definitive agreements with Max Healthcare Institute Limited (MHC) and Max India Limited for the subscription of 26% of the post-issue share capital of MHC.
This is subject to the fulfilment of certain conditions precedent.
The subscription price is Rs 516.5 crore. Life Healthcare will provide pro-rata guarantees for its proportionate share of the debts of MHC currently guaranteed by Max India.
MHC is a leading private hospital provider in the Delhi-NCR (National Capital Region) and is a subsidiary of Max India, one of India's leading multi business corporates.