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Fortis accepts $584 million stake deal from Malaysia's IHH Healthcare

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Fortis Healthcare Ltd said on Friday it accepted an investment offer from Malaysia's IHH Healthcare Bhd, capping a months-long bidding war for control of the firm that drew interest from domestic and international suitors.Cash-strapped Fortis said IHH will invest 40 billion rupees ($584.11 million) at 170 rupees per share in the company that operates about 30 private hospitals in India, where the race to cash in on a private healthcare boom is heating up. The offer is at a 19.5 percent premium to Fortis' closing price on Thursday.Northern TK Venture Pte Ltd, Singapore, a ...

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First Published: Fri, July 13 2018. 08:07 IST