Cleary Gottlieb represented its longtime client TPG in its acquisition of approximately 28% of the shares of Asiri Hospital Holdings from Actis for approximately $53 million. The transaction, which signed on November 20 and closed on December 10, is TPG’s second investment in Sri Lanka, following its $117 million investment into Union Bank of Colombo in 2014, when Cleary also represented TPG.
Asiri, which is listed on the Colombo Stock Exchange, is Sri Lanka’s leading private healthcare service provider, operating four hospitals in Colombo and the southern city of Matara.