Punj Lloyd to sell stake in Medanta Medicity: Report

In a bid to cut its debt, Punj Lloyd is reportedly planning to sell its stake in Gurgaon-based multi specialty hospital Medanta Medicity Hospitals. The company will sell half of its 17% shareholding in Global Health, a company which owns, manages and operates the Gurgaon based hospital for around Rs 300 crore.

Moreover, Singapore’s state investment company – Temasek -- is negotiating with the company to buy its minority stake in super specialty hospital -- Medanta Medicity.

Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.