Punj Lloyd says no plans to sell stake in Medanta

Punj Lloyd today said it is not in talks with US-based private equity firm Kohlberg Kravis Roberts (KKR) to sell its 17 per cent stake in Gurgaon-based multi speciality Medanta Medicity Hospitals.
     
"At no point has KKR approached Punj Lloyd to buy out its stake in Medanta," the company said in a statement.
     
It termed as "speculative and incorrect" reports that Punj may sell the stake to cut its debt.
     
Medanta Medicity Hospital, co-promoted by cardiac surgeon Naresh Trehan and Sunil Sachdev who holds around 54 per cent stake, is spread over 50 acres and has a capacity of 1,250 beds and over 350 critical care beds and 45 operation theatres. Punj Lloyd holds 17 per cent stake in the hospital.