•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences
Subscribe for perks & to support LI

██████ associate leaves after concerns of how firm dealt with her sexual harassment complaint

116 people have already read this article, which will unlock for non-subscribers like you in . So what are you waiting for? Subscribe now!

Cyril Amarchand, Khaitan, Trilegal, Luthra, S&R, Allen Gledhill advise on Singapore-Malaysia $1.1bn buy Fortis Healthcare

Fortis Healthcare Limited was aquired by Malaysian-Singaporean healthcare group IHH Healthcare Berhad (through its wholly owned subsidiary, Northern TK Venture Pte Ltd), through a preferential issue of equity shares of Fortis for a consideration of Rs 4,000 crores at a price of Rs 170 per Equity Share amounting to 31.1% of Fortis’ share capital, as reported by Mint and others.

Cyril Amarchand Mangaldas managing partner Cyril Shroff and Mumbai-based corporate partner Ruetveij Pandya advised Fortis Healthcare Limited, according to the firm’s press release.

Khaitan & Co acted as Indian counsel to IHH Healthcare Berhad , according to its press release. The core transaction team comprised partner Haigreve Khaitan, partner Anand Mehta, partner Arindam Ghosh, associate partner Ashraya Rao and principal associate Soumyadri Chattopadhyaya. Also assisting were, on the open offer: partner Sudhir Bassi, senior associate Arpita Anand and associate Shashank Patil. In litigation: partner Sanjeev Kapoor, principal associate Saman Ahsan, principal associate Aditya Ganju and associate Aayush Jain. In competition: associate partner Sagardeep Rathi, principal associate Pranjal Prateek, associate Akash Karmarkar and associate Aman Singh Baroka. In corporate (due diligence): senior associate Niharika Mepani and associate Nupur Pandit.

Singaporean firm Allen & Gledhill acted as legal advisor for IHH Healthcare Berhad with the documents being signed on July 13, 2018.

Update 23 May 2019: L&L Partners advised Fortis Healthcare Limited led by a team of partners Sundeep Dudeja and Vaibhav Kakkar working under the overall guidance managing partner Rajiv Luthra, with associates Sahil Arora and Debarpan Ghosh.

Update 3 14 July 2018 16:43: A Trilegal spokesperson said that the firm’s partners Harsh Pais and Upasana Rao, senior associate Sanjam Arora and associate Pooja Menon also advised IHH Healthcare Berhad with Khaitan as transaction co-counsel.

Update 29 May 2019: S&R Associates advised Citigroup, the financial advisor and joint manager to the deal, led by a team of partners Sandip Bhagat and Jabarati Chandra, associates Brajendu Bhaskar and Srimukundan R.

The acquisition triggers an open offer by IHH to the public shareholders for at least 26% of Fortis for an amount of around Rs 3,300 crores and Fortis Malar Hospitals to give it full control of the company.

IHH defeated a rival bid by TPG-backed Manipal Health Enterprises for Fortis.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click to show 27 comments
at your own risk
(alt+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.

Latest comments