Moneycontrol
Last Updated : Mar 28, 2018 10:33 AM IST | Source: CNBC-TV18

Fortis deal with Manipal: Find out what Prakash Diwan's take is

TPG backed Manipal Hospitals has decided to buy Fortis Healthcare and invest sum of Rs 3,900 crore. In an interview to CNBC-TV18, Prakash Diwan, Market Expert shared his views on the deal and the stock.

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TPG backed Manipal Hospitals has decided to buy Fortis Healthcare and invest sum of Rs 3,900 crore. In an interview to CNBC-TV18, Prakash Diwan, Market Expert shared his views on the deal and the stock.

Diwan said that Rs 3,900 crore that the promoters are putting will help them buy 50 percent plus stake in the diagnostic business and hospital business from Fortis.

“Fortis has had about Rs 7800 crore market as on last close and this incremental value would come from the Manipal group of assets. So it seems like accretive for Fortis shareholders though this would be residually left as holding company but today the swap would be much more favourable for the shareholders if were to buy the Fortis share,” he said.
First Published on Mar 28, 2018 09:45 am
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