Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 18 2018

China’s Fosun International Joins bidding Race For Fortis

The Chinese company has proposed a primary infusion of capital at Rs 156 per share subject to due diligence to be completed within three weeks.

India’s second-largest hospital chain Fortis Healthcare Ltd has received an unsolicited non-binding proposal from a unit of Fosun International, making the Chinese business conglomerate the fourth bidder in the Fortis stake deal.

Fosun Health Holdings Ltd intends to provide Rs 100 crore ($15 million) in the next 45 days to support the immediate cash needs of Fortis and invest up to $350 million in total, the Indian company said in a statement late Tuesday evening. The investment will give Fosun a stake of no more than 25% in Fortis, it said.

The Chinese company has proposed a primary infusion of capital at Rs 156 per share subject to due diligence to be completed within three weeks. Shares of Fortis were trading around Rs 147 apiece on Wednesday morning.

Fosun’s interest in Fortis comes after the Chinese firm completed its debut deal in the Indian healthcare sector last year to acquire a 74% stake in drugmaker Gland Pharma Ltd. Fosun, which was founded in 1992, has business interests in healthcare services, healthcare insurance, and pharmaceuticals.

The latest twist offered by Fosun in the sale of Fortis has added up to the list of bidders who already generated interest from three other bidders.

Comment
image
Related opportunities
  • Career Counselling & Brain Programming
    About Us: Brain Checker Techno Services (India) is India's Largest Career..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2012
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Nashik Maharashtra
  • Online learning/E-learning
    About Us : We are the group of people having 10+..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Electric Two Wheelers
    About Us: Joy E-Bike is India’s one of the leading entrants in..
    Locations looking for expansion Gujarat
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Tea and Coffee Chain
    About Us: If you are looking for a solid business opportunity..
    Locations looking for expansion Delhi
    Establishment year 2010
    Franchising Launch Date 2010
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities