IHH is the sole contender for Fortis, as others drop out
05-Jun-17, Live Mint
IHH Healthcare Bhd, Asia’s largest healthcare group, remains the sole contender for acquiring Fortis Healthcare after TPG Capital and General Atlantic dropped out of the race owing to differences over valuation.
%20Ramesh%20Pathania_Mint.jpg "IHH is the sole contender for Fortis as others drop out (c) Ramesh Pathania Mint")
Image: Ramesh Pathania / Mint
A deal may value the Fortis hospital chain at USD1.8-2.0 bn. At present, Fortis has a market value of USD1.55 bn.
A legal battle between Japanese drug maker Daiichi Sankyo and brothers Malvinder Mohan Singh and Shivinder Mohan Singh, who control the company holding 52.2% of Fortis Healthcare, remains a hurdle for closing the deal to sell Fortis.