Business Standard

Fortis Healthcare extends deadline for latest bidding round


(Reuters) - India's Fortis Healthcare on Thursday extended the date to submit binding bids for the cash-strapped hospital chain to July 3, the second time since it said it would start a fresh round of bidding.
The company said earlier this month it would look at a new round of bids from four local and international parties, after shareholders opposed an earlier decision to accept the Hero Enterprise Investment Office and the Burman Family Office consortium's offer worth 18 billion rupees ($262.52 million).
Fortis is also weighing offers from a consortium of Manipal Health Enterprises and private equity firm TPG, Malaysia's IHH Healthcare Bhd and Radiant Life Care Private Ltd.
($1 = 68.5650 Indian rupees)
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Gopakumar Warrier)

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 29 2018 | 11:26 AM IST

Explore News