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Fortis Healthcare International to sell entire stake in MSCL


Fortis Healthcare International to sell entire stake in MSCL

Mauritius-based Fortis Healthcare International holds 28.89 per cent stake in  Medical and Surgical Centre Ltd (MSCL).

New Delhi: Fortis Healthcare Friday said its subsidiary Fortis Healthcare International Ltd(FHIL) will sell its entire stake in Medical and Surgical Centre Ltd (MSCL).

Mauritius-based FHIL holds 28.89 per cent stake in MSCL.

Also Read: Fortis tightens financial noose around Singh brothers; likely to move Delhi HC

“Fortis Healthcare International Ltd (FHIL), a wholly owned subsidiary of Fortis Healthcare Ltd, which is incorporated in Mauritius, has entered into a share purchase agreement with CIEL Ltd, CIEL Healthcare Ltd and MSCL, for, sale of the entire shareholding held by FHIL in MSCL, representing 28.89 per cent (164,670,801 shares) holding of the total issued and paid up equity share capital of MSCL,” it said in a regulatory filing.

It added that the proposed transaction is subject to the approval of Fortis Healthcare Ltd’s shareholders as well as regulatory approvals, if required.

“Upon consummation of the proposed transaction, the entire stake of FHIL in MSCL will be divested,” it added.

Also Read: SEBI asks Fortis to recover Rs 403 crore from Singh Brothers; FHL informs HC


Source: PTI
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