Fortis Healthcare Receives Non-binding Offer from Fosun Health Holdings
Fortis Healthcare today said it has received an unsolicited non-binding offer from Fosun Health Holdings with a proposal of primary infusion at a price up to Rs 156 per share, up to a total investment of USD 350 million subject to due diligence to be completed within three weeks.
New Delhi, Apr 17 (PTI) Fortis Healthcare today said it has received an unsolicited non-binding offer from Fosun Health Holdings with a proposal of primary infusion at a price up to Rs 156 per share, up to a total investment of USD 350 million subject to due diligence to be completed within three weeks.
Fosun is the latest to join Malaysian healthcare firms IHH, Manipal and a joint offer by Burmans and Munjals to bid for Fortis Healthcare.
In a late night filing to BSE, Fortis Healthcare said it "has received an unsolicited non-binding expression of interest from Fosun Health Holdings Ltd, a wholly owned subsidiary of Fosun International Ltd...,with a proposal of primary infusion at a price up to Rs 156 per share, subject to due diligence to be completed within three weeks".
This expression of interest is for up to a total investment of USD 350 million (including a preliminary investment of up to Rs 100 crore and further subject to certain conditions, it said.
In another filing Fortis said it has availed a secured financing facility up to Rs 160 crore from RattanIndia Finance Private Ltd on March 29 for a tenor of three years for meeting its working Capital requirements and General Corporate Purposes.
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