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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials, Market

Fortis get shareholders’ nod for selling 6.5pct stake to GIC

Posted on 10 June 2010

From Indiatimes.com: Hospital chain Fortis Healthcare said its shareholders have approved selling 6.58 per cent stake in the company to Singapore-based private equity firm GIC for $83 million (Rs 380 crore). The stake sale has been carried through preferential allotment of 22.3 million equity shares.
The company in a filing to the Bombay Stock Exchange said that its shareholders in an extra-ordinary general meeting held today approved the allotment of 22.3 million equity shares of Rs 10 each at a premium of Rs 160 to Lathe Investment Pte Ltd, an affiliated investment vehicle of GIC Special Investment…………………………………………Full Article: Source

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