S&R Associates advised IHH Healthcare Berhad on its acquisition of Fortis Healthcare and Fortis Malar Hospitals
The Leading law firm in India, S&R Associates represented IHH Healthcare Berhad (“IHH”), one of the world’s leading private healthcare groups, and its wholly-owned indirect subsidiaries, Northern TK Venture Pte. Ltd. (NTK) and Parkway Pantai Limited (PPL) (NTK as the acquirer, with IHH and PPL acting in concert) in the INR 44.09 billion open offer under the Takeover Code for the acquisition of 26.1% of the share capital of Fortis Healthcare Limited, a leading listed healthcare services provider.
S&R also advised IHH, NTK, and PPL (NTK as the acquirer, with IHH and PPL acting in concert) in the INR 175.99 million open offer under the Takeover Code for the acquisition of 26.11% of the share capital of Fortis Malar Hospitals Limited, a listed subsidiary of Fortis Healthcare Limited. Following the completion of the transactions, IHH’s indirect shareholding in Fortis Healthcare Limited and Fortis Malar Hospitals Limited is 31.17% and 62.73%, respectively.
The S&R team was led by Sandip Bhagat (Partner), Rajat Sethi (Partner), and Raya Hazarika (Partner), and included Stuti Dhundia, Srikari Kancherla, Vishvesh Vikram, and Rishabh Uppal (Associates) on corporate matters. Niti Dixit (Partner) and Savani Gupte (Partner), along with Ishita Mathur, Sameer Gupta, and Lokesh Rajoria (Associates), advised on litigation matters.
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