TPG in talks to acquire 40% in eye hospital chain Dr Agarwal's Health Care; ADV may exit

Global private equity investor TPG Capital is in advanced talks to acquire a 40% stake in Dr Agarwal's Health Care Ltd, which owns eye-care chain Dr Agarwal's Eye Hospital. TPG's stake acquisition will include 32% held by existing investor ADV Partners and additional primary capital deployment. The deal is expected to value Dr. Agarwal's at INR 2,200 crore (about USD 300 million). The investment will be made through PE fund's growth equity platform TPG Growth. General Atlantic and Goldman Sachs were also in the race for stake-buy in the eye-hospital chain. Veda Corporate Advisors is the advisor to the transaction.