TPG, Manipal sweeten deal for Fortis' India hospital business
Manipal Hospital Enterprises (MHEPL), an Indian hospital chain backed by TPG Capital, has submitted a revised buyout offer of INR61 billion ($933 million) for the hospital business of domestic rival Fortis Healthcare (FHL).
MHEPL is willing to pay the equivalent of INR116 per share, which represents an upward revision of about 21% on the previous offer. FHL's hospital business will be demerged into MHEPL, creating a listed...
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