Fortis Healthcare - Updates
13/01/2018 15:47
Fortis Healthcare Limited has informed the Exchange regarding 'Disclosure under Regulation 30'.This is in continuation to our letter Ref. No. FHL/SEC/STEX/RR/2017-18 dated November 14, 2017 wherein the Company had informed about entering into a term sheet (?Term Sheet?) in relation to the proposed acquisition by the Company and/or its subsidiaries of the equity and financial securities, in the relevant Indian entities under RHT Health Trust (RHT) of, International Hospital Limited and Fortis Health Management Limited (and consequentially Escorts Heart and Super Speciality Hospital Limited, Hospitalia Eastern Private Limited and Fortis Hospotel Limited) from the wholly-owned subsidiaries of RHT (?Proposed Transaction?). As per the agreed Term Sheet, the parties had entered into an exclusivity period for 60 days, commencing from the date of the Term Sheet with a view to executing definitive agreements for the Proposed Transaction. The said period of 60 days expires on January 12, 2018.It is hereby further informed that, the parties to the Term Sheet have on January 12, 2018, mutually agreed to extend the Exclusivity Period by an additional period of 30 days from January 12, 2018. This is in order to facilitate the continued negotiations and finalisation of the Definitive Agreements in relation to the Proposed Transaction. We will keep the stock exchanges informed about any further updates in this regard.This letter may kindly be read in conjunction with the compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.This is for your information and records please.