Shareholders of Fortis Healthcare on July 08 approved a resolution allowing the hospital chain to sell its stake in the Medical and Surgical Centre (MSCL).
MSCL is listed on the Development and Enterprise Market of the Stock Exchange of Mauritius. It owns two hospitals in Mauritius - Clinique Darne and Wellkin Hospital.
Fortis has 28.89 percent stake in MSCL, while its Mauritius-based partner CIEL Healthcare holds 58.60, and the rest held by other shareholders.
MSCL has a market capitalisation of around $55 million. The share of Fortis would fetch it around $16 million.
The decade-old partnership agreement between CIEL and Fortis ended on December 31, 2018.
Fortis shareholders also approved of modification of terms of the Non-Convertible Bonds (NCBs) issued by its subsidiary companies.
Share of Fortis on July 08 dropped 2 percent to close at Rs 130.05 on BSE, the benchmark Sensex declined 2.01 percent to end at 38,720.57 points.
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