Fortis To Acquire 23.9% Stake in Singapore's Parkway Holdings
by Jarna Gandhi
Fortis Healthcare 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.