India's Fortis Healthcare rises on report that IHH likely to seal Fortis deal

RHT Health Trust

09/07/2018 06:19

** Shares of hospital operator Fortis Healthcare Ltd
 FOHE.NS  rise as much as 4.6 pct to 144.9 rupees
    ** Malaysia's IHH Healthcare Bhd  IHHH.KL  is likely to
acquire control of Fortis with a binding offer to buy at least
51 pct for 47 bln-54 bln rupees ($684.5 mln-$786.4 mln),
newspaper Mint report https://www.livemint.com/Companies/5Vz7PvQsvAdiNYmb2iKNVN/IHH-Healthcare-likely-to-seal-Fortis-deal-with--47005400.htmls,
 citing sources
    ** IHH Healthcare also planning to buy RHT Health Trust
 RHTH.SI , a Singapore-listed business trust that owns some of
Fortis's assets, through a secondary infusion, the report said
    ** Separately, a consortium of U.S. private equity firm TPG
and Indian hospital operator Manipal Health has offered to
infuse 21 bln rupees in cash into Fortis, the report said
    ** IHH was not immediately available for comment while
spokesperson for Fortis and Manipal-TPG declined to comment on
the Mint report
    ** Fortis stock had declined 13.7 pct this year as of last
close


($1 = 68.6650 Indian rupees)

 ((Reuters Messaging:
krishna.vkurup.thomsonreuters.com@reuters.net))