KUALA LUMPUR: IHH Healthcare Bhd
’s unit is seeking compensation ranging from 4.24 billion rupees (RM200mil) to 109.3 billion rupees (RM5.7bil) from Japan's Daiichi Sankyo for its stake purchase in India's Fortis Healthcare Ltd.
In a filing with Bursa Malaysia, IHH said its indirect wholly-owned subsidiary, Northern TK Venture Pte Ltd (NTK), submitted a brief on Feb 6, accompanied by an expert report from Osborne Partners (OP), NTK’s appointed expert.
The report includes an analysis and quantification of the damages NTK suffered, based on three counterfactual scenarios had the open offers proceeded.
“Based on the OP Report, the amount of compensation being sought by NTK against Daiichi Sankyo ranges from INR 4.24 billion (RM200mil at its lowest) to INR 109.3 billion (RM5.7bil at its highest), depending on what relevant parameters are applied,” IHH said.
“The upper bound of the damages of INR 109.3 billion (RM 5.7bil) is an increase from the initial figure of JPY 20 billion set out in the Nov 14, 2023 announcement.
“In the Feb 6 brief, NTK reserves its rights to amend its claim for damages, including to add other heads of loss and/or to claim the costs of the legal fees it is seeking from Daiichi Sankyo,” it added.
