Intimation regarding the execution of the (i) Second Amendment Agreement to the Share Purchase Agreement entered into for the acquisition of shares of Vizag Hospital and Cancer Research Centre Private Limited (Vizag Hospital) by HealthCare Global Enterprises Limited (the Company) from the Selling Shareholders and (ii) Second Amendment Agreement to the Shareholders Agreement by and between HealthCare Global Enterprises Limited, Vizag Hospital and its Continuing Shareholders.
HCG · price
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HCG has signed second amendment agreements to the Share Purchase Agreement (SPA) and Shareholders Agreement (SHA) with Vizag Hospital and Cancer Research Centre Private Limited, originally entered on June 28, 2024 and first amended on October 1, 2024. Under the original deal, HCG was to acquire an additional 34% equity stake in Vizag Hospital within 18 months of the First Closing Date (October 2, 2024). The parties have now agreed to extend this Second Closing Date by 3 weeks, meaning HCG will acquire the additional 34% stake before 18 months and 3 weeks from October 2, 2024. No other material changes have been made to the SPA or SHA beyond the timeline extension.
The 3-week extension is minor and suggests the acquisition is largely on track, though it may signal slight operational or closing-condition delays. Shareholders should see minimal impact on the deal economics, with HCG continuing to consolidate its stake in Vizag Hospital in a phased manner.