A Fortis hospital building is pictured in New Delhi. Suitors including Chinese conglomerate Fosun International Ltd are vying for Fortis after the company
PETALING JAYA: IHH Healthcare Bhd
said it had on Wednesday issued a strictly non-binding letter to the board of Fortis Healthcare Ltd saying that it is ready to infuse up to INR4,000 crores (or RM2.36bil) into the latter company through a preferential allotment of equity shares.
The price of the new equity share in this proposal will not exceed INR160 per share.
It is also subject to a satisfactory completion of a due diligence, IHH said in its statement.
“The infusion is intended to fund the buyout of the assets from RHT Health Trust as well as provide immediate liquidity towards working capital and infrastructure upgrades,” the second largest public listed healthcare company in the world said in a statement to Bursa Malaysia.
“The Fortis’ board has acknowledged receipt of the letter and has indicated that it is scheduled to meet on Apr 19, 2018 to consider all its options. At this juncture, IHH has not entered into any discussions, negotiations or transactions,” it added.
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