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Fortis Health
BSE: 532843NSE: FORTISISIN: INE061F01013

15th-Jun-2019 12:40Source: BSE

Fortis Healthcare - Reg. 30 - Closure Of Bidding And Search Process For RHT And RHTTM

This is in continuation of our letter ref. FHL/SEC/2019-20 dated April 08, 2019 captioned ''Intimation made by RHTTM'' wherein we had informed the stock exchanges that RHT Health Trust Manager Pte. Ltd. (''RHTTM''), wholly owned subsidiary of Stellant Capital Advisory Services Private Limited (''Stellant''), had made certain disclosures to Singapore Stock Exchange with reference to commencement of deliberations with various parties to explore the possibility of sale of interest in RHT Health Trust (RHT) and in RHTTM by Fortis Healthcare International Limited (''FHIL''), being largest unit holder of RHT, and Stellant, respectively. (''Potential Transaction''). Stellant and FHIL are direct/ indirect wholly owned subsidiaries of the Company.

It is hereby intimated that pursuant to an open invitation to interested parties to submit proposals in connection with the Potential Transactions, a process to evaluate proposals was undertaken with professional advisers, and preliminary discussions were held with certain third parties concerning the Potential Transactions. However, it is hereby intimated that no firm proposal which is commercially viable was received and no agreement (binding or non-binding) has been reached with any of these parties in connection with the Potential Transactions or any other transaction involving RHT and/or RHTTM. Pursuant to the same, since the above process to explore the Potential Transaction was inconclusive, it was decided to close the bidding and search process.

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