A Fortis hospital building is pictured in New Delhi. Suitors including Chinese conglomerate Fosun International Ltd are vying for Fortis after the company
NEW DELHI: Malaysia's IHH Healthcare Bhd
has become the controlling shareholder in India's Fortis Healthcare Ltd and will have four seats on the reconstituted board of directors.
The Indian hospital chain said its board yesterday approved the allotment of 235,294,117 equity shares through preferential issue to Northern TK Venture Pte Ltd (NTK), a wholly-owned indirect subsidiary of IHH Healthcare Bhd, at 170 rupees (US$2.34) per share of 10-rupee face value.
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