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Fortis Healthcare update on subsidiaries

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Update on sale of stake held by Fortis Cancer Care in Lalitha Healthcare

Fortis Healthcare announced that Fortis Cancer Care ('FCCL'), a step down subsidiary of the Company had entered into a memorandum of understanding with Lalitha Healthcare ('LHPL'), another step down subsidiary of the Company, Dr. Lakshmi Narayana Raju, Lakshmi Priya, S. Venkataramana Raju (collectively the 'Promoters of LHPL') and Anikrish Hospitals, for, inter alia, sale of the entire shareholding held by FCCL, representing 79.43% of the total issued and paid up equity share capital of LHPL, to the Promoters of LHPL ('Proposed Transaction').

Further, the Parties to the MOU had on 22 February 2018 agreed, to extend the Long Stop Date with effect from 17 February 2018 for 6 (Six) Months i.e. till 16 August 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, February 24 2018. 11:21 IST