Fortis Healthcare in talks with TPG Capital to sell stake

The quantum of stake sale which is yet to be finalised is likely to be at least of 26 per cent

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Fortis Healthcare and private equity group TPG Capital are in talk to sell a significant minority stake in company. The current cap of Fortis Healthcare stands at Rs 7909 crore.

The quantum of stake sale which is yet to be finalised is likely to be at least of 26 per cent. Beyond that, the acquisition will trigger an open offer for an additional 25 per cent equity.

Commenting on the same, spokesperson of Fortis said, "Both sides are engaged in bilateral negotiations. There is no formal sale process as yet. In the recent past they have tried to unlock value through stake sale in the diagnostics arm SRL but that did not yield any result".

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