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Fortis Healthcare receives non-binding offer from Fosun Health Holdings

Press Trust of India  |  New Delhi 

Healthcare today said it has received an unsolicited non-binding offer from 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 IHH, Manipal and a joint offer by Burmans and Munjals to bid for Healthcare.

In a late night filing to BSE, Healthcare said it "has received an unsolicited non-binding expression of interest from Ltd, a wholly owned subsidiary of 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 Private Ltd on March 29 for a tenor of three years for meeting its working Capital requirements and

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

First Published: Wed, April 18 2018. 00:05 IST
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