For­tis board backs IHH’s 4,000cr of­fer

The Times of India (New Delhi edition) - - FRONT PAGE -

The board of For­tis Health­care on Fri­day rec­om­mended that its share­hold­ers ac­cept the of­fer of Malaysian hos­pi­tal ma­jor IHH Health­care Ber­had to in­vest Rs 4,000 crore in the cash-strapped com­pany and pick up a 31.1% stake in it through pref­er­en­tial al­lot­ment at Rs 170 per share, re­ports Prab­hakar Sinha.

This will be fol­lowed by a com­pul­sory open of­fer by IHH to ac­quire an ad­di­tional 26% in For­tis from the pub­lic. The lat­est of­fer val­ues FHL at Rs 8,880 crore. IHH will have to in­vest up to Rs 7,400 crore to ac­quire a 57.1% stake. The FHL board has been seek­ing strate­gic in­vestors for six months.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.