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Fortis rejigs shareholding, RHC Holding consolidates

In a filing to BSE, the company said RHC Holding will buy 32.9 crore shares of Fortis Healthcare through an inter se transfer at a price of Rs 59 a piece - Rs 1,900 crore in all.

twitter-logoPTI | December 14, 2010 | Updated 11:19 IST

Fortis Healthcare on Monday said its promoters are restructuring their holding in the company by transferring 81.42 per cent stake to RHC Holding.

In a filing to the Bombay Stock Exchange, the company said RHC Holding will buy 32.9 crore shares of Fortis Healthcare through an inter se transfer at a price of Rs 59 a piece, aggregating to nearly Rs 1,941.1 crore.

The shares of Fortis Healthcare would be bought from Fortis Healthcare Holdings, which are in turn held by Malav Holding and Shivi Holding.

"This is a consolidation of holdings inter se amongst the promoter group. There is no change in the shareholding structure of Fortis Healthcare," a spokesperson for Fortis said.

Post the deal, RHC Holding along with Persons in Concert (PAC) that includes Singh brothers, would have 81.51 per cent shareholding in Fortis Healthcare, the filing said.

The acquisition of the shares by RHC Holding, a Singh family-owned firm, will take place between December 21 and December 31, it said.

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