Vishal Bali, currently the head of Fortis International, will
India’s Fortis Healthcare to buy sister overseas arm
NEW DELHI, Sept 19 (Reuters) Indian hospital chain Fortis Healthcare Canada Goose online (India) Ltd canada goose Black Friday Sale will buy Singapore based sister firm Fortis Healthcare International in a move to bring all of the group health businesses under one company, boosting the listed firm shares.
Terms of the all cash deal will be set by an independent valuer and the transaction will be closed by December, Chairman Malvinder Singh told Reuters. The board of Fortis cheap Canada Goose Healthcare on Monday approved the buyout.
Both companies expect revenue of about $500 million each in the current fiscal year, including the listed firm recently acquired Super Religare Canada Goose sale Laboratories, according to the company.
deal presents both risk and opportunity for Fortis India, said Rashesh Shah, an analyst with brokerage ICICI Securities, who has a rating on the stock with a target price Canada Goose Parka of 185 rupees.
Shah said the move canada goose coats on sale was a surprise, canada goose black friday sale and said the valuation would determine whether or not it a good deal uk canada goose for the listed firm shareholders.
Shares in Fortis Healthcare, cheap canada goose uk valued at about $1.3 billion, were up 1.2 percent at 148.90 rupees at 0753 GMT, having risen as much as 5.1 percent after the news.
The billionaire Singh brothers, Malvinder and Shivinder, last year set up Fortis Global, later renamed Fortis Healthcare International, to pursue overseas business after losing out to Malaysian state investor Khazanah in a battle for Singapore Parkway Holdings, then Asia biggest listed hospital operator.
Since then, Fortis International has made seven acquisitions across the Asia Pacific region, making it the size of the Indian operation, and Group Chairman Singh said the group plans to invest about $1 billion in the canada goose uk outlet combined businesses over three years.
Fortis was planning to list two of its health care entities canada goose clearance sale in Singapore in public offers worth up to $1.5 billion, IFR, a unit of Thomson Reuters reported in April.
markets are not buy canada goose jacket cheap in good shape. That could be a reason that they have decided to combine it to fund further acquisition, ICICI Shah said.
Malvinder Singh did not comment on the group plans to list Fortis International or a property trust holding Indian hospital buildings.
INTERNATIONAL FOCUS Last year, Fortis Healthcare Canada Goose Outlet International agreed to buy the healthcare canada goose factory sale assets of Hong Kong canada goose clearance based https://www.canadagoosetomall.com Quality HealthCare Asia Ltd.
It has also bought Australia Dental Corporation Holdings, Sri Lanka Lanka Hospitals Corp Plc, Vietnam Hoan My canada goose coats Medical Corp uk canada goose outlet and a Singapore hospital bought from First Real Estate canada goose Investment Trust.
another six months, international will be bigger than India, Malvinder Singh said.
you are to club the two entities together Canada Goose Online you really double the business and the size and scale, the canada goose uk black friday capability. The infrastructure, the management depth and the medical talent that you end up creating is absolutely phenomenal.
The Singh brothers set up a privately owned firm to make overseas forays because of jitters among the Indian firm shareholders after the Parkway bid.
we said as a family, we will seed the businesses, seed the investments because if you put all of that into the Indian entity there might be diffusion of focus, a Canada Goose Jackets higher degree of risk, Malvinder Singh said.
He said investors are now more comfortable with Fortis international ambition.
After the buyout, Fortis International will become a wholly canadian goose jacket owned unit canada goose uk shop of Fortis Healthcare (India), which will canada goose store be named Fortis buy canada goose jacket Healthcare. Vishal Bali, currently the head of Fortis International, will be the group global CEO.
will continue to happen. As we continue to go through that route, we will continuously evaluate Canada Goose Coats On Sale various capital raising opportunities in different markets, Singh said.
Religare Capital markets, part of financial services firm Religare Enterprises that is also controlled by the Singh brothers, advised Fortis Healthcare International. (Editing by Tony Munroe).