Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 27 2018

TPG-backed Manipal Health Offers Fortis Unsolicited proposal

Shares of the company were down 3.18% to Rs 143 on BSE at 1:56 pm.

Fortis Healthcare Ltd has received an unsolicited non-binding acquisition proposal from Manipal Health Enterprises Pvt. Ltd, backed by private equity firm TPG Capital, amid separate media reports of a likely merger between the two hospital chains.

Fortis in its disclosure said the proposal is being evaluated by the board

Shares of the company were down 3.18% to Rs 143 on BSE at 1:56 pm.

Reports of likely sale of Fortis, India’s second-largest hospital chain, have been doing the rounds for months now. Malaysia-based hospital operator IHH Healthcare was also in the fray to buy Fortis.

The reports come at a time when Fortis Founders Malvinder Singh and Shivinder Singh, until recently counted among India’s billionaires, have all but lost control of the healthcare firm after their stakes plunged to low single digits.

The brothers, who have been divesting and are mired in legal cases, now own a stake of only 0.77% in Fortis compared with nearly 25% at the end of December 2017, stock-exchange filings show.

Comment
Related opportunities
  • Competitive Exam Coaching Institute
    About Us: Searching for a premium franchise opportunity in booming education..
    Locations looking for expansion Karnataka
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Premium Coffee & Tea Since 1963 carefully nurtured from seed..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2014
    Investment size Rs. 50lac - 1 Cr.
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Electric Vehicles (E-Vehicles)
    About Us: India’s First –Ever  Electric Bike Rental/Taxi/Delivery Platform e-Bike..
    Locations looking for expansion New Delhi
    Establishment year 2007
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 1100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Competitive Exam Coaching Institute
    About Us Edutalent is an education startup founded in 2017 by..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
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