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.
%20The%20Economic%20Times.jpg "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.