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Fortis Healthcare International to sell stake in MSCL

Mauritius-based Fortis Healthcare International holds 28.89 per cent stake in MSCL.

twitter-logo PTI        Last Updated: May 18, 2019  | 08:43 IST
Fortis Healthcare International to sell stake in MSCL
Fortis Healthcare Friday said its subsidiary Fortis Healthcare International will sell its entire stake in Medical and Surgical Centre Ltd (MSCL).

Fortis Healthcare Friday said its subsidiary Fortis Healthcare International will sell its entire stake in Medical and Surgical Centre Ltd (MSCL).

Mauritius-based Fortis Healthcare International holds 28.89 per cent stake in MSCL.

Also Read: Fortis Healthcare appoints Ashutosh Raghuvanshi as MD and CEO

"Fortis Healthcare International Ltd (FHIL), a wholly owned subsidiary of Fortis Healthcare Ltd, which is incorporated in Mauritius, has entered into a share purchase agreement with CIEL Ltd, CIEL Healthcare Ltd and MSCL, for, sale of the entire shareholding held by FHIL in MSCL, representing 28.89 per cent (164,670,801 shares) holding of the total issued and paid up equity share capital of MSCL," it said in a regulatory filing.

It added that the proposed transaction is subject to the approval of Fortis Healthcare Ltd's shareholders as well as regulatory approvals, if required.

Also Read:SEBI asks Fortis Healthcare, Fortis Hospitals to recover Rs 403 crore from Singh brothers, 7 others

"Upon consummation of the proposed transaction, the entire stake of FHIL in MSCL will be divested," it added.

Share of Fortis Healthcare closed at Rs 126.95 apiece, down 0.47 per cent Friday.

Also Read: Fortis Healthcare enters into Rs 1,100 crore loan deal with Citibank

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