Deals
TPG Nears Deal for India's No. 2 Listed Hospital Chain
- Fortis Healthcare is said to discuss issuing new stock
- Company is being investigated by fraud watchdog, regulator
TPG Said to Near Deal for $1.2 Billion Indian Hospital Chain
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A consortium led by TPG is nearing an agreement to gain control of Fortis Healthcare Ltd., India’s second-largest private hospital chain by market value, people with knowledge of the matter said.
The investor group, which also includes Manipal Health Enterprises Pvt, could announce a deal as soon as the next few days, according to the people, who asked not to be identified because the information is private. Under the plan being discussed, the operations of closely-held Manipal -- whose backers include TPG and Temasek Holdings Pte -- would be combined with Fortis’s business, the people said.