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Board of Fortis Healthcare decides to acquire additional stake in subsidiary

Capital Market 

At meeting held on 28 September 2015

Fortis Healthcare announced that the Board of Directors of the Company, on 28 September 2015, approved the acceptance of ROFR Notice issued to the Company by Sabre Partners Trust, Spring Healthcare and Spring Healthcare India Trust, (Investors).

Under the ROFR Notice, the Investors had offered to transfer their complete shareholding in SRL (a subsidiary of the Company) to the Company.

Pursuant to the above, the Company has agreed to purchase the cumulative shareholding of Investors consisting of approx. 24.88 lakh equity shares aggregating to 3.1% of the equity share capital of SRL at Rs 423 per equity share.

Post completion of the said acquisition, the equity shareholding of the Company in SRL, shall increase to 57% from the existing shareholding of 53.9%, on a fully diluted basis.

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First Published: Mon, September 28 2015. 12:04 IST