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| Exchange Received Time 18/08/2017 17:39:36 Exchange Disseminated Time 18/08/2017 17:39:39 Time Taken 00:00:03 | Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, this is to inform you that the Fortis Cancer Care Limited ('FCCL'), a step down subsidiary of the Company has entered into a memorandum of understanding ('MoU') with Lalitha Healthcare Private Limited ('LHPL'), another step down subsidiary of the Company, Dr. Lakshmi Narayana Raju, Ms. Lakshmi Priya, Mr. S. Venkataramana Raju (collectively the 'Promoters of LHPL') and Anikrish Hospitals Private Limited, for, inter alia, sale of the entire shareholding held by FCCL, representing 79.43% of the total issued and paid up equity share capital of LHPL ('FCCL Shares'), to the Promoters of LHPL ('Proposed Transaction'). The MoU contemplates that FCCL, LHPL and the Promoters of LHPL will enter into a share purchase agreement ('SPA') for the sale of the FCCL Shares to the Promoters of LHPL.
Pursuant, to the consummation the Proposed Transaction the control and management of LHPL will be transferred to the Promoters of LHPL. |
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