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CCI approves IHH acquisition of Fortis Healthcare, Fortis Malar Hospital


CCI approves IHH acquisition of Fortis Healthcare, Fortis Malar Hospital

In July, the board of Fortis Healthcare approved an Rs 4,000-crore offer from IHH Healthcare for buying 31.1 per cent stake in it. The proposal had valued the cash-strapped firm at Rs 8,880 crore.

New Delhi: Competition watchdog CCI has approved Malaysia-based IHH Healthcare’s proposed acquisition of Fortis Healthcare and Fortis Malar Hospital.

In August, Fortis Healthcare shareholders gave their nod for the deal.

In July, the board of Fortis Healthcare approved an Rs 4,000-crore offer from IHH Healthcare for buying 31.1 per cent stake in it. The proposal had valued the cash-strapped firm at Rs 8,880 crore.

Shareholders had also approved reclassifying members of promoter/promoter group to public shareholder category and classification of Northern TK Venture Pvt Ltd as a promoter.

Read Also: Singh brothers, 8 other entities told to repay over Rs 403 crore to Fortis Healthcare: SEBI

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Source: PTI
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