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Fortis Healthcare - Updates on Step Down Subsidiary Company

By Religare

With reference to earlier announcement dated December 17, 2012 intimating decision of Board of one of the Companys step down subsidiaries, based out of Singapore i.e. Fortis Healthcare International Pte Ltd., to divest its entire holding in Dental Corporation (Australia) subject to necessary regulatory approvals, Fortis Healthcare Ltd has now informed BSE that the Supreme Court of Victoria on May 24, 2013 approved the Scheme of Arrangement for Bupa Australia Health Pty Ltd ("Bupa") to complete its full acquisition of Dental Corporation Holdings Limited ("Dental Corporation") and consequently, Bupa will acquire 100% of the shares in Dental Corporation at completion on May 31, 2013 and the Company aforesaid step down subsidiary, will receive A$2.347 per Dental Corporation share aggregating to A$ 270.38 Million.

Read more about: fortis healthcare
Story first published: Friday, May 24, 2013, 13:31 [IST]
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