SINGAPORE (March 14): Malaysia’s IHH Healthcare is set to launch a voluntary open offer to buy the non-promoter shares of Fortis Healthcare in the next few days, the Economic Times reports, citing multiple sources familiar with the matter.
* Citi will advise on the process and is preparing $1b to fund share purchase
* Talks are currently on with banks to tie up financing
* IHH is unlikely to seek to acquire promoters’ shares for now
* IHH spokesperson told ET co. doesn’t comment on market speculation
* NOTE: IHH Healthcare Eyes Acquisitions in India, CEO Says: FT