Morgan Stanley, Nippon India MF, and two others buy HCG shares worth Rs 438 cr

New Delhi, Sep 11 (PTI) Morgan Stanley and Nippon India Mutual Fund (MF) are among the investors that bought around 63 lakh shares worth Rs 438 crore of HealthCare Global Enterprises (HCG) from private equity firm CVC Capital Partners through open market transactions, according to the NSE data.

Motilal Oswal MF and Plutus Wealth Management are the other two entities that bought shares in HCG.

On Wednesday, Morgan Stanley, Nippon India Mutual Fund (MF), Motilal Oswal MF and Plutus Wealth Management purchased 63 lakh equity shares representing a 4.52 per cent stake in Bengaluru-headquartered HCG.

The transaction was valued at around Rs 437.85 crore, and was executed at an average price of Rs 695 apiece on the National Stock Exchange (NSE).

Meanwhile, Luxembourg-based CVC Capital Partners through its affiliate, Aceso Company Pte Ltd offloaded these shares at the same price.

After the stake sale, Aceso Company holding in HCG has come down to 4.24 per cent from 8.76 per cent.

Shares of Healthcare Global Enterprises on Thursday fell 1.31 per cent to close at Rs 685.95 apiece on the NSE.

In February this year, private equity major KKR announced that it had signed definitive agreements with CVC to acquire up to 54 per cent of the equity stake in HCG for about USD 400 million.

After the completion of the transaction, KKR became the largest shareholder in HCG.

Founded in 1989, HCG is one of India's largest oncology hospital chains. It operates 25 medical care centres across 19 cities. PTI HG HG MR