Fortis appoints Arpwood Capital as financial advisor for the deal

Fortis Healthcare on Friday informed the stock exchanges that on the basis the direction made by the Board, the company has appointed Arpwood Capital Private Limited, an investment banking firm engaged in providing merger, acquisition and capital raising advisory services. The firm will act as financial advisor to the Board of Directors of the Company to provide its independent opinion on the offers received or to be received from bidders for a potential significant equity investment and/or acquisition or restructuring of its assets.  

Meanwhile, in the ongoing Daiichi case in Delhi High Court where the Japanese drug major had appealed to the main status-quo of Fortis assets, the latter today informed that in the April 25 hearing no orders were passed against Fortis. 

Daiichi had sought injunction on the scheme of arrangement for demerger of the hospital business of the Company into Manipal Health Enterprises Private Limited.