Fortis Healthcare has rallied 7% at Rs 117 after the company announced to divest 64% stake in Dental Corporation Holdings (DC), Australia to Bupa, for a consideration of for 270 million Australian dollars (around Rs 1,554 crore).
"Fortis Healthcare International Pte Ltd, a subsidiary of Fortis Healthcare today announced its decision to sell its 64 per cent stake in Dental Corporation Holdings Ltd (DC), Australia, to Bupa, for a consideration of Aus $ 270 Mn," the company said in a statement.
The deal is expected to be completed in March 2013 subject to shareholder and regulatory approvals, it added.
The stock opened at Rs 113 and touched high of Rs 120 on the BSE. A combined 190,000 shares have changed hands on the counter in opening deals on both the exchanges.
