Fortis Healthcare is trying to finalise a new owner after receiving bids from five suitors, which included Manipal-TPG combine, Malaysia’s IHH Healthcare, KKR-backed Radiant Life Care, China’s Fosun Healthcare. Photo: MintNew Delhi: Fortis Healthcare Ltd on Monday said that its two more directors, Harpal Singh and Sabina Vaisoha, have resigned—a day ahead of a crucial meeting of shareholders called to vote on the removal of four directors of the cash-strapped healthcare chain. The two institutional investors, which together hold 12.04% stake in Fortis Healthcare, had demanded last month that these four directors be removed from the board and had called for the company’s EGM on 22 May for shareholders to vote. Similarly, Vaisoha also put in her papers to step down as non-executive independent director on the company’s board, the company said in a separate filing. Fortis Healthcare is trying to finalise a new owner after receiving bids from five suitors, which included Manipal-TPG combine, Malaysia’s IHH Healthcare, KKR-backed Radiant Life Care, China’s Fosun Healthcare, besides the successful bidder Munjals-Burmans combine.

Source: Mint May 21, 2018 08:37 UTC