IHH to acquire 31% stake in Fortis Healthcare for â¹4,000cr
Fortis Healthcare board has approved a â¹4,000-crore offer from Malaysia-based IHH Healthcare for 31.1% stake in it, valuing Fortis at â¹8,880 crore. IHH will also make a mandatory open offer of up to â¹3,300 crore to buy 26% more stake in Fortis from existing shareholders. IHH said in long term it would rebrand Fortis hospitals into its own Gleneagles chain.