Fortis Healthcare has accepted an investment offer from Malaysia’s IHH Healthcare Bhd, capping a months-long bidding war for control of the firm, reported Mint..IHH will be investing Rs 4,000 crore at Rs 170 per share in Fortis that operates about 30 private hospitals in India..Fortis Healthcare had received 2 binding proposals from IHH and TPG-Manipal consortium and the Board after considering the merits of both the bids and taking into account the recommendation of its Legal Advisors – Luthra & Luthra and Cyril Amarchand Mangaldas approved IHH’s offer, according to BSE announcement..Cyril Amarchand Mangaldas has been advising Fortis Healthcare and the team is led by Managing Partner Cyril Shroff along with Partners Ruetveij Pandya and Nivedita Rao..Luthra & Luthra also acted for Fortis Healthcare and in addition advised the new board of Fortis Healthcare. The Luthra team was led by Partners Sundeep Dudeja and Vaibhav Kakkar..Khaitan & Co acted for Malaysia’s IHH Healthcare. The Khaitan team was led by Partners Haigreve Khaitan, Anand Mehta, Arindam Ghosh along with Associate Partner Ashraya Rao and Principal Associate Soumyadri Chattopadhyaya. The team was assisted by.Open Offer: Sudhir Bassi (Partner), Arpita Anand (Senior Associate) and Shashank Patil (Associate)Litigation: Sanjeev Kapoor (Partner), Saman Ahsan (Principal Associate), Aditya Ganju (Principal Associate) and Aayush Jain (Associate)Competition: Sagardeep Rathi (Associate Partner), Pranjal Prateek(Principal Associate), Akash Karmarkar (Associate) and Aman Singh Baroka(Associate)Corporate (Due diligence): Niharika Mepani (Senior Associate) and NupurPandit (Associate).Trilegal acted as co-counsel for IHH Healthcare and the team was led by Partners Harsh Pais and Upasana Rao along with Sanjam Arora and Pooja Menon..Earlier, Fortis Healthcare board had picked the acquisition offer made jointly by Sunil Kant Munjal of Hero Enterprise and the Burman family..However, when a new board was reconstituted after a group of institutional shareholders sought removal of four directors, the company decided to call for a fresh bid.
Fortis Healthcare has accepted an investment offer from Malaysia’s IHH Healthcare Bhd, capping a months-long bidding war for control of the firm, reported Mint..IHH will be investing Rs 4,000 crore at Rs 170 per share in Fortis that operates about 30 private hospitals in India..Fortis Healthcare had received 2 binding proposals from IHH and TPG-Manipal consortium and the Board after considering the merits of both the bids and taking into account the recommendation of its Legal Advisors – Luthra & Luthra and Cyril Amarchand Mangaldas approved IHH’s offer, according to BSE announcement..Cyril Amarchand Mangaldas has been advising Fortis Healthcare and the team is led by Managing Partner Cyril Shroff along with Partners Ruetveij Pandya and Nivedita Rao..Luthra & Luthra also acted for Fortis Healthcare and in addition advised the new board of Fortis Healthcare. The Luthra team was led by Partners Sundeep Dudeja and Vaibhav Kakkar..Khaitan & Co acted for Malaysia’s IHH Healthcare. The Khaitan team was led by Partners Haigreve Khaitan, Anand Mehta, Arindam Ghosh along with Associate Partner Ashraya Rao and Principal Associate Soumyadri Chattopadhyaya. The team was assisted by.Open Offer: Sudhir Bassi (Partner), Arpita Anand (Senior Associate) and Shashank Patil (Associate)Litigation: Sanjeev Kapoor (Partner), Saman Ahsan (Principal Associate), Aditya Ganju (Principal Associate) and Aayush Jain (Associate)Competition: Sagardeep Rathi (Associate Partner), Pranjal Prateek(Principal Associate), Akash Karmarkar (Associate) and Aman Singh Baroka(Associate)Corporate (Due diligence): Niharika Mepani (Senior Associate) and NupurPandit (Associate).Trilegal acted as co-counsel for IHH Healthcare and the team was led by Partners Harsh Pais and Upasana Rao along with Sanjam Arora and Pooja Menon..Earlier, Fortis Healthcare board had picked the acquisition offer made jointly by Sunil Kant Munjal of Hero Enterprise and the Burman family..However, when a new board was reconstituted after a group of institutional shareholders sought removal of four directors, the company decided to call for a fresh bid.
