IHH Healthcare unit sues Japan's Daiichi Sankyo over Fortis deal (updated)
14/11/2023 05:46
(Updates throughout with detail and background on litigation)
Nov 14 (Reuters) - Malaysia's IHH Healthcare IHHH.KL
on Tuesday said its unit filed a claim against Japan's Daiichi
Sankyo 4568.T in mid-October seeking damages in excess of 20
billion yen ($131.86 million) in relation to its stake buy in
India's Fortis Healthcare FOHE.NS .
On Oct, 16, Northern TK Venture filed a claim against
the Japanese pharmaceuticals manufacturer stating it caused
losses to the company by preventing it from proceeding with open
offers to buy a stake in Fortis Healthcare in 2018.
IHH Healthcare in December 2018 halted its open offer to
buy an additional 26% stake in Fortis after a court ruling
ordered status quo to be maintained after Daiichi filed a
contempt plea against Fortis founders, according to media
reports.
"The claims filed by NTK against Daiichi Sankyo are tort
claims premised on the latter's unlawful interference with NTK’s
trade or business, conspiracy of Daiichi Sankyo and other
persons, malicious falsehood and defamation under the applicable
substantive laws," IHH Healthcare said on Tuesday.
A tort claim is a wrong that arises in court citing injury
or harm to a party.
NTK is also seeking an injunction to prevent Daiichi Sankyo
from defaming NTK in the future, said IHH, Asia’s largest
private healthcare group.
($1 = 151.6800 yen)
(Reporting by Aaditya Govind Rao in Bengaluru; Editing by
Nivedita Bhattacharjee)
((Aaditya.GovindRao@thomsonreuters.com;))