Fortis Healthcare India is in talks with private equity firms Carlyle Group and TPG Capital India to sell a 15-20% holding, as per the news reported today (March 29, 2012)
The company aims to raise around $250 million through a combination of equity and convertible debt instruments from the PE firms, as per reports, adding a deal could happen over the next two weeks.
A spokeswoman for Fortis told the report was 'baseless', while a Carlyle spokesman said he had no comment. Officials at TPG Capital could not be immediately reached.
The founders of the Fortis Healthcare, billionaire Singh brothers Malvinder and Shivinder, also plans to sell 6.5% of their stake through a stock auction, reports said.
The hospitals chain is planning to add 600 beds to its capacity of 4,100 beds, its Chief Executive Aditya Vij said in February.
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The company aims to raise around $250 million through a combination of equity and convertible debt instruments from the PE firms, as per reports, adding a deal could happen over the next two weeks.
A spokeswoman for Fortis told the report was 'baseless', while a Carlyle spokesman said he had no comment. Officials at TPG Capital could not be immediately reached.
The founders of the Fortis Healthcare, billionaire Singh brothers Malvinder and Shivinder, also plans to sell 6.5% of their stake through a stock auction, reports said.
The hospitals chain is planning to add 600 beds to its capacity of 4,100 beds, its Chief Executive Aditya Vij said in February.
....more info