Saraf, S&R act on IHH acquiring 26% stake in Fortis Healthcare

IHH Healthcare Berhad and its wholly-owned indirect subsidiaries, Northern TK Venture and Parkway Pantai have made a ₹4,409 crore open offer under the Takeover Code for the acquisition of 26.1 percent of the share capital of Fortis Healthcare.

Saraf and Partners advised Fortis Healthcare and Fortis Malar Hospital on this transaction.

The transaction team was led by Vaibhav Kakkar (Senior Partner), Sahil Arora (Partner) and Debarpan Ghosh (Partner).

The competition team led by Akshayy S Nanda (Partner) assisted with competition law related aspects.

S&R Associates advised IHH Healthcare Berhad and its wholly-owned indirect subsidiaries on this transaction.

The transaction team was led by Sandip Bhagat (Partner), Rajat Sethi (Partner) and Raya Hazarika (Partner), and included Stuti Dhundia (Senior Associate), Srikari Kancherla (Senior Associate), Associates Vishvesh Vikram and Rishabh Uppal on corporate matters.

Niti Dixit (Partner) and Savani Gupte (Partner) and Ishita Mathur (Principal Associate), Associates Sameer Gupta and Lokesh Rajoria advised on litigation matters.

Following the completion of the transactions, IHH’s indirect shareholding in Fortis Healthcare Limited and Fortis Malar Hospitals Limited is 31.17% and 62.73%, respectively.

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