New Delhi-based Fortis group is ready to purchase stakes in Chennai-based Malar Hospitals Ltd.
The group has signed up an agreement with the Chennai-based Malar Hospitals promoters’ to buy 28 per cent of the holdings through International Hospital Ltd - a wholly owned subsidiary of Fortis Healthcare Ltd (FHL) - and Oscar Investments Ltd.
Fortis will also make an open public offer to take over 20 per cent stake from the public. The transaction will mount Fortis’ entry into south India.