This Article is From Jan 19, 2015

Punj Lloyd Sells Entire Stake in Global Health to Temasek Arm

Punj Lloyd Sells Entire Stake in Global Health to Temasek Arm

New Delhi: Engineering major Punj Lloyd today said it has sold its entire 17.74 per cent stake in Global Health Pvt Ltd, which owns Gurgaon-based Medanta Medicity hospital among others, to an arm of Singapore's state-owned investment company Temasek Holdings.

No financial details of the deal were, however, disclosed.

"The company has sold its entire shareholding of 8,601,979 equity shares in Global Health Pvt Ltd (GHPL), amounting to 17.74 per cent of the issued equity share capital of GHPL, to Dunearn Investments (Mauritius) Pte Limited, (Dunearn) today," Punj Lloyd said in a filing to BSE.

Dunearn is a wholly-owned subsidiary of Temasek Holdings Pte Ltd, it added.

"GHPL is an owner and operator of hospitals and medical clinics," Punj Lloyd said.

Shares of Punj Lloyd today closed at Rs 37.75 per scrip on BSE, up 2.30 per cent from their previous close.