Fortis Arm to buy stake in TN hospital chain Malar

By Our Corporate Bureau | 08 Sep 2007

1

Mumbai: Ranbaxy Promotor Group Company Fortis Healthcare Ltd, will acquire about 46 per cent stake in Chenni-based Malar Hospitals Ltd, a company official said.

The acquisition will be done by its wholly-owned subsidiary, International Hospital Ltd, Fortis said in a statement.

Fortis, through its unit, will buy 28 per cent of equity from the promoters of Chennai-based Malar and another 18 per cent through a preferential share issue, said Anil Panwar, Fortis' president, (Finance).

Oscar Investments Ltd, another Ranbaxy group firm, will also acquire 7 per cent of equity through a preferential issue, he added.

The companies will make an open offer for the shares after the acquisition, Fortis Healthcare said in a filing with the Bombay Stock Exchange.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers