ICICI Bank Ltd.

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Large Cap | Bank - Private
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ICICI Bank’s arm plans to sell its 67% stake in Medica Synergie: Report

Date: 28-11-2013

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.