A few investors, which account for 30% Fortis shareholding, plan to write to the board of Fortis Healthcare seeking an extraordinary general body meeting to replace the current board. Photo: Ramesh Pathania/MintMumbai: Some shareholders of Fortis Healthcare Ltd have come together to oppose the sale of Fortis hospitals to the Manipal Health Enterprises-TPG Capital combine, two people directly aware of the development said on condition of anonymity. In an interview on 28 March, Puneet Bhatia, co-managing partner and country head, TPG Capital, said that he expects the Fortis-Manipal deal to cross multiple hurdles. Emails sent to TPG Capital and Manipal group remained unanswered till press time. As part of the proposed transaction, Manipal promoter Ranjan Pai and TPG Capital will invest Rs3,900 crore in Manipal Health Enterprises Pvt.

Source: Mint April 02, 2018 02:37 UTC