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 14-Mar-18, ET Healthworld

Malaysia’s IHH Healthcare will launch a voluntary open offer to buy the non-promoter shares of Fortis Healthcare of India, nine months after walking out of bilateral negotiations with promoters Malvinder and Shivinder Singh who were then in control.

Malaysias IHH Healthcare to make offer for Fortis (c) The Economic Times

Image: Economic Times

The move will likely set the stage for a competition with a TPG-Manipal Hospitals combine as each side tries to acquire a minimum holding of 51%.

Manipal is believed to be working with Kotak Mahindra. IHH, the world's second largest healthcare group, is preparing a USD1 bn war chest to fund the share purchase.

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