April 16, 2018 / 9:48 AM / in 6 months

BRIEF-Fortis Healthcare Says Board To Meet This Week To Look At Eligible Options

April 16 (Reuters) - Fortis Healthcare Ltd:

* SAYS BOARD WILL BE MEETING THIS WEEK TO LOOK AT ALL ELIGIBLE OPTIONS Source text - “The Board of Directors of Fortis Healthcare Limited had approved the demerger of its hospitals business into Manipal Hospital Enterprises Private Limited (MHEPL) on the 27th of March 2018. The Board had also approved sale of its 20% stake in SRL Limited to Manipal Hospitals on the same day, both being subject to shareholders and regulatory approvals. Last week, Fortis has received two binding offers: one is a revised offer from MHEPL and the second is a joint binding offer from Hero Enterprise Investment Office and Burman Family Office expressing interest in the company. In addition, the company has also received a non-binding expression of interest from IHH Healthcare Bhd. The Fortis Board will be meeting this week to look at all eligible options and determine the future course of action that is in the best interests of the Company, employees and shareholders.” Further company coverage:

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