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| Exchange Disseminated Time | With reference to the earlier announcement regarding Fortis to realise value from divestment of stake in RadLink-Asia Pte Ltd to Medi-Rad Associates Ltd for SGD137,000,000, Fortis Healthcare Ltd has now informed BSE that the Company's step down subsidiary at Singapore, Fortis Healthcare Singapore Pte. Ltd has received a decision from the Competition Commission of Singapore wherein following a review of the proposed transaction, involving the acquisition of RadLink- Asia Pte Limited and its subsidiaries by Medi-Rad Associates Ltd, an indirect wholly owned subsidiary of IHH Healthcare Berhad, the regulator (Competition Commission of Singapore) has indicated that it the proposed transaction is completed as contemplated, the combination may result in lessening of competition in the relevant market in Singapore.
Consequently, Fortis will continue to explore alternate strategic opportunities related to RadLink and any significant decision around that shall be promptly intimated to exchanges. |
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