Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Phone Reviews
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Phone Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Malaysia's IHH Healthcare to invest Rs. 4000cr in Fortis healthcare
  • Business

    Malaysia's IHH Healthcare to invest Rs. 4000cr in Fortis healthcare

    Anjana Raghav
    Written by
    Anjana Raghav
    Mail
    Last updated on Jul 13, 2018, 11:36 am
    Malaysia's IHH Healthcare to invest Rs. 4000cr in Fortis healthcare
  • Cash-strapped Fortis Healthcare today said its board has unanimously accepted a binding offer from Malaysia's IHH Healthcare Berhad to invest Rs. 4,000cr in it by way of preferential allotment at Rs. 170/share.

    On July 3, Fortis received two binding proposals from IHH and TPG-Manipal consortium but Munjals-Burmans combines, which had earlier become the preferred bidder, and Radiant Life Care had backed out.

    Here's more.

  • In this article
    Malaysian firm to make mandatory open offer to public shareholders Fortis took suggestions from its financial, legal advisors IHH's offer is 20% premium to current market price: Fortis Fortis had started fresh bidding process on May 29
  • Mandatory open offer

    Malaysian firm to make mandatory open offer to public shareholders

    Malaysian firm to make mandatory open offer to public shareholders
  • The Malaysian firm will make a mandatory open offer to public shareholders for 26% of the outstanding shares post issuance.

    The "proposal provides for refinance of debt to the extent of Rs. 2,500cr", Fortis said.

    The funds infused would be used towards completion of acquisition of assets of RHT, SRL private equity minority shareholders and short term liquidity needs, the firm added.

  • Recommendations

    Fortis took suggestions from its financial, legal advisors

    Fortis took suggestions from its financial, legal advisors
  • Fortis said its Board considered merits of both the binding bids and took into account recommendation of its Financial Advisors (Standard Chartered Bank and Arpwood Capital) and legal advice from Legal Advisors (Luthra & Luthra Law Offices and Cyril Amarchand Mangaldas) while approving IHH's offer.

    Fortis Healthcare Chairman Ravi Rajagopal said the process has been conducted in a fair, time-bound and transparent manner.

  • Information

    IHH's offer is 20% premium to current market price: Fortis

  • The offer is at 20% premium to current market price, Fortis said, adding the IHH proposal offers significant deal certainty given a simpler transaction structure and a shorter timeframe. It also provides an exit opportunity for shareholders through the open offer, in case they desire.

  • Bidding process

    Fortis had started fresh bidding process on May 29

    Fortis had started fresh bidding process on May 29
  • The newly reconstituted board of Fortis had on May 29 initiated a fresh bidding process to meet FHL's long term and short term objectives.

    Three bidders (IHH, TPG-Manipal consortium, Hero-Burman consortium) were invited to participate and Fortis received an expression of interest from Radiant-KKR consortium.

    The diligence access and management interaction was offered to all the four bidders, Fortis said.

  • India
  • Kolkata Knight Riders
  • Malaysia
  • Fortis Hospital
  • Standard Chartered Bank
  •  
Latest News
  • De Niro harassing woman who accused him of sexual intimidation?
    De Niro harassing woman who accused him of sexual intimidation?
    Entertainment
  • Honda is offering huge discounts on these cars this month
    Honda is offering huge discounts on these cars this month
    Auto
  • Prior to launch in India, specifications of Yamaha FZ-X leaked
    Prior to launch in India, specifications of Yamaha FZ-X leaked
    Auto
  • How Spotify's Car Thing solves a problem you never had
    How Spotify's Car Thing solves a problem you never had
    Science
  • Northrop Grumman's MEV-2 life-extender successfully coupled with an active satellite
    Northrop Grumman's MEV-2 life-extender successfully coupled with an active satellite
    Science
Related Timelines
  • Beauty e-tailer Nykaa bags undisclosed funding from Boston-based Fidelity Investments
    Beauty e-tailer Nykaa bags undisclosed funding from Boston-based Fidelity Investments
    Business
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Amazon Food News, Healthy Recipes Apple Royal Challengers Bangalore Prince Philip Toyota
Fashion Tips Mercedes Sidharth Malhotra Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers
Neha Kakkar X-Men TATA Keanu Reeves
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021