Fortis To Acquire 23.9% Stake in Singapore's Parkway Holdings
by Jarna Gandhi
@Fortis_Healthcare_L Limited plans to acquire 23.9% stake in Singapore-based Parkway Holdings Limited from TPG Capital in an off market deal for an undisclosed sum.
However, the deal size is rumored to be around $685mn.
Royal Bank of Scotland Plc and Goldman Sachs Group Inc. advised TPG.
Fortis intends to seek four seats on the board of directors of Parkway and also to nominate Malvinder Mohan Singh (current Chairman of Fortis Healthcare) as the Chairman of the Board of Directors of Parkway.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.