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Malaysia's Ihh Healthcare Nears Takeover Of India's Fortis With $1.1b Bid

by reuters.com posted 3months ago 23 views
* IHH will invest 40 bln rupees at 170 rupees/shr for 31 pct stake. : MUMBAI/KUALA LUMPUR (Reuters) - Malaysia’s IHH Healthcare Bhd (IHHH.KL) is set to take control of India’s Fortis Healthcare (FOHE.NS) after its bid of up to $1.1 billion was chosen over a rival’s, giving it ownership of over 30 hospitals amid a private healthcare boom in India. IHH’s 170 rupees per share offer for as much as 57 percent of Fortis was chosen on Friday over a joint bid from Indian firm Manipal Health Enterprises Ltd and U.S. private equity firm TPG Capital [TPG.UL].

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