AU Small Finance Bank Limited proposes to acquire Fincare Small Finance Bank Limited pursuant to an amalgamation

The proposed merger is through RBI administered scheme of amalgamation under Regulation 44A of the Banking Regulation Act, 1949.

The Transaction is subject to Shareholders Approval, Regulatory approval and a capital infusion of INR 700 Crores in FIncare.

Through the proposed merger, AU Snall Finance Bank aims to diversify its geographical presence as well as loan book. Pursuant to the transaction, shareholders holding 2000 equity shares of Fincare shall be issued 579 equity shares of AU Small Finance Bank.

Blackstone completed acquisition of Quality Care Hospitals

US-based private equity firm Blackstone announced that it has completed acquisition of a 72.5 % stake in Quality Care India Ltd (QCIL). QCIL operates a network of Care Hospitals, from Evercare, a platform backed by TPG Rise funds. This acquisition marks Blackstone’s entry into India’s health care services sector.

TPG will continue to hold the remaining stake of 27.5 per cent in QCIL. With QCIL valued at Rs 6,600 crore ($800 million), the deal is estimated at about Rs 4,800 crore ($580 million).

It is noted from newspaper articles that in a separate deal, QCIL has signed a definitive agreement to acquire around 80 per cent in KimsHealth, a Thiruvananthapuram-headquartered quaternary care hospital network offering end-to-end healthcare services. The valuation of KimsHealth is estimated at Rs 3,300 crore ($400 million).