IHH Healthcare values India's Fortis at RM5.2b

KUALA LUMPUR (July 13): The proposal by IHH Healthcare Bhd to acquire a controlling stake in Fortis Healthcare Ltd earlier today has valued the India-based healthcare group at INR88.8 billion (RM5.2 billion), said IHH today.

IHH’s indirect unit Northern TK Venture Pte Ltd is seeking to subscribe up to 235.29 million new shares in Fortis — representing a 31.1% stake — with an open offer to acquire another 197.03 million shares (26%) from Fortis shareholders at INR170 (circa RM9.98) per share.