Moneycontrol
Jan 11, 2017 03:50 PM IST | Source: CNBC-TV18

TPG in talks to buy 20% stake in Fortis Healthcare: Sources

Global private firm TPG is likely to buy stake in Fortis Healthcare. The stock was up 16 percent in the morning trade, say sources. The quantum of stake to be acquired may be around 20 percent in Gurgaon-based healthcare company for Rs 2,000 to Rs 2,300 crore.

Global private firm TPG is likely to buy stake in Fortis Healthcare

According to sources, the quantum of stake to be acquired may be around 20 percent in Gurgaon-based healthcare company for Rs 2,000 to Rs 2,300 crore.

TPG is also likely to get 1 or 2 board seats in Fortis post deal. Promoters of Fortis are expected to retain around 40 percent stake in the company.

News on proposal for the stake sale in the hospital chain has been doing the rounds for a long time. PE giants like Bain Capital and KKR, apart from TPG, were in the race for equity in Fortis.

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