|
| Exchange Disseminated Time | Fortis Healthcare Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 04, 2016, inter-alia, considered and approved the following:
1. Subject to approval of Shareholders, Singapore Exchange Securities Trading Limited ("SGX-ST") and unit holders of Religare Health Trust (RHT), wherever required
i. Acquisition of 51% economic interest in Fortis Hospotel Limited (FHTL) by way of acquiring Compulsory Convertible Debentures (CCDs) from Fortis Global Healthcare Infrastructure Pte Ltd (FGHIPL) for a total consideration upto Rs. 1100 Crores.
ii. Corporate Guarantee on behalf of Fortis Hospitals Limited (FHsL), wholly owned subsidiary of the Company securing the payment of principle (Rs. 459 Crores) and interest thereon of the NCDs being issued by FHsL to FHTL.
2. Further, one of the Company's wholly owned subsidiary Fortis Hospitals Limited (FHsL) has agreed to acquire 4,01,769 Compulsory Convertible Preference Shares (CCPS) of Rs. 10 each from International Hospitals Limited (IHL) issued by Escort Heart Institute & Research Centre Limited (EHIRCL) to IHL at a consideration of upto Rs. 360 Crores. After the said acquisition holding of the Company (direct and indirect) in EHIRCL shall increase from 83.27% to 100%. The transaction is subject to approval Exchange Securities Trading Limited ("SGX-ST") and unit holders of Religare Health Trust (RHT). |
|
|