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Fortis Healthcare Ltd In Talks To Sell Hong Kong And Vietnam Assets To Raise $400 Million-The Economic Times


Wednesday, 5 Jun 2013 09:03pm EDT 

The Economic Times reported that Fortis Healthcare Ltd, may sell Vietnam and Hong Kong arms for $380-400 million, or around INR2,100 crore (INR21 billion), two persons familiar with the development said. Fortis has received an unsolicited bid of $80 million from Singapore-based Richard Chandler Corporation for 65% stake in Fortis Hoan My Corporation (the Vietnamese unit), one of the two persons said. The transaction is in the final stage as the two sides have already reached an understanding and a deal is likely to be announced shortly. The Company has started the process of divesting primary care chain in Hong Kong, Quality Healthcare, and some hospital chains and financial investors have shown keen interest in the asset. Investment bank JPMorgan is the lead advisor to the deal, said the other person familiar with the proposed transaction. 

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