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ICICI Bank’s arm plans to sell its 67% stake in Medica Synergie: Report

28 Nov 2013 Evaluate

ICICI Venture, a wholly owned subsidiary of ICICI Bank is reportedly planning to sell its 67% stake in Kolkata-based healthcare firm Medica Synergie to Quadria Capital for Rs 160 crore. ICICI Venture had invested about Rs 90 crore to acquire two-thirds in Medica Synergie in 2007-2008. The deal will help Quadria Capital to consolidate and grow hospital assets in a growing market like India.

ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.

Peers
Company Name CMP
HDFC Bank 719.35
ICICI Bank 1305.50
Axis Bank 1214.00
Kotak Mahindra Bank 419.80
Indusind Bank 880.00
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