Fortis Healthcare’s Arm To Sell 28.89% Stake In MSCL

Fortis Healthcare (FHL) in its filing to the exchanges informed that its subsidiary Fortis Healthcare International (FHIL) will sell its 28.89% in Medical and Surgical Centre Ltd (MSCL).

“The company’s subsidiary has entered into a share purchase agreement with CIEL Limited, CIEL Healthcare Limited, and the MSCL, for sale of the entire shareholding held by FHIL in MSCL,” the company said in a press note after markets hours to the exchanges on Friday.

The proposed transaction is subject to the approval of FHL’s shareholders as well as regulatory approval, if required. Upon consummation of the proposed transaction, the entire stake of FHIL in MSCL will be divested, the company added.

Fortis Healthcare Ltd’s share price ended at Rs126.95, down by Rs0.6 or 0.47%, from its previous close of Rs127.55 on the BSE.
The scrip opened at Rs127.15 and touched a high and low of Rs127.65 and Rs126.20, respectively. A total of, 6,23,809 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs9,584.15cr. – IIFL
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