Cash strapped brothers Malvinder and Shivinder Singh are reportedly in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity.
The quantum of stake sale is yet to be finalized but it will be a minimum of 26%. Beyond that, the acquisition will trigger an open offer for an additional 25% equity.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.
