Shares of Aster DM Healthcare slipped into the red during the trading session on 28 November following the reports that the company is set to sell-off its GCC (Gulf Cooperation Council) business.

According to media outlet CNBC-TV18, Fajr Capital, along with Aster DM’s promoters, are set to acquire the company’s GCC business in a deal for a total consideration of $1 billion.

The sale of the company’s GCC business is being done by the independent directors of Aster DM in an attempt to avoid a conflict of interest on the promoter’s part.

The sale of the GCC business is a part of the speculation that the company is considering a potential sale of its India business. According to the reports by Bloomberg, the deal value of the company’s entire business is worth more than $2.5 billion, assets in the Gulf business are worth around $1 billion, and the Indian business is worth approximately $1.5 billion.

At 3:30 pm, the shares of Aster DM Healthcare closed 0.98% lower at Rs 334.35 on NSE.