Fortis | ICT magazine

RSS Feed

Twitter

Facebook

Posts Tagged ‘fortis’

Fortis Healthcare eyes Singapore REIT: Update 2

September 6th, 2010 | No Comments

Indian hospital operator Fortis Healthcare (FOHE.BO) is looking to list a real estate investment trust in Singapore in the next six months to house its property assets and is looking at a valuation of US$600-US700 million ($806-$940 million), a senior company executive said.

Fortis, which in July missed out on a bid for control of Singapore-based hospital operator Parkway Holdings (PARM.SI) (nSGE66P00J), has been working on a possible REIT listing for a year, the executive said, adding that regulatory challenges remain.

Fortis Healthcare eyes Singapore REIT-Update

September 6th, 2010 | No Comments

Indian hospital operator Fortis Healthcare (FOHE.BO) is looking to list a real estate investment trust in Singapore in the next six months to house its property assets and is looking at a valuation of US$600-US700 million $806-$940 million, said a senior company executive, who asked not to be named.

Fortis, which in late July fell short in its bid for control of Singapore-based hospital operator Parkway Holdings (PARM.SI), has been working on a possible real estate investment trust (REIT) listing for a year, the executive said, adding that regulatory challenges remain.

Fortis to list REIT in Singapore in 6 months

September 6th, 2010 | No Comments

Indian hospital operator Fortis Healthcare (FOHE.BO) is looking to list a real estate investment trust in Singapore in the next six months and is looking at a market value of US$600-US$700 million ($806-$940 million), a company source said.

Rewarding failure for Fortis Healthcare

July 27th, 2010 | No Comments

Sometimes, failure pays. Walking away from bidding war for control of Singapore-based Parkway Holdings (P27.SG), Fortis Health Care (532843.BY) finds itself $85.6 million richer, says Dow Jones.

Fortis will sell its 25% Parkway stake, bought in March, to Malaysian sovereign wealth fund Khazanah Holdings, which won bidding war Monday, with an offer to buy out Fortis, Parkway’s other investors for $2.56 billion.

Khazanah wins battle for Parkway; Fortis bows out

July 26th, 2010 | No Comments

Malaysian state investor Khazanah trumped India’s Fortis Healthcare (FOHE.BO) in a takeover battle for Singapore’s Parkway (PARM.SI) with an offer that values Asia’s biggest listed hospital operator at US$3.3 billion ($4.51 billion).

Khazanah — in its biggest acquisition overseas — said it was offering around $3.95 per share for all Parkway shares it does not own, topping the $3.80 offered by Fortis, confirming an earlier Reuters story.

Fortis made $116.7m profit on Parkway deal

July 26th, 2010 | No Comments

India’s Fortis Healthcare (FOHE.BO) made a profit of $116.7 million on its deal to accept an offer from Malaysian state investor Khazanah for Singapore’s Parkaway Holdings (PARM.SI), a Fortis spokesman said.

Fortis, which owns about 25% of Parkway, lost out in a battle for control of the Singapore healthcare firm.

{jcomments on}

Fortis says to pursue other opportunities in SE Asia

July 26th, 2010 | No Comments

India’s Fortis Healthcare (FOHE.BO), which lost out in a battle for control of Singapore healthcare firm Parkaway Holdings (PARM.SI), said it will pursue other opportunities in Singapore and the region.

Malaysian state investor Khazanah offered $3.95 per share for Parkway on Monday, and Fortis, which owns about 25% of the firm, said it will accept.

Khazanah offers $3.5b in Parkway buyout, topping Fortis

July 26th, 2010 | No Comments

Khazanah Nasional Bhd., Malaysia’s sovereign wealth fund, offered $3.5 billion for the rest of Singapore’s Parkway Holdings, topping a bid by Fortis Healthcare for Asia’s biggest hospital operator.

Khazanah offered $3.95 a share for the 76.1%it doesn’t already own of Parkway, the Kuala Lumpur-based fund said in a statement today. That’s 3.9%more than the $3.80-a- share bid by New Delhi-based Fortis on July 1. The proposal values Parkway at about $4.5 billion, according to Bloomberg calculations.

Khazanah poised to trump Fortis on Parkway deal

July 26th, 2010 | No Comments

Malaysian state investor Khazanah is poised to trump an offer from India’s Fortis Healthcare (FOHE.BO) for Singapore’s Parkway (PARM.SI) in a buyout bid that values Asia’s biggest listed hospital operator at US$3.3 billion ($4.51 billion).

Khazanah — in its biggest acquisition overseas — will offer around $3.95 per share for all Parkway shares it does not own, topping the $3.80 offered by rival suitor Fortis Healthcare, sources with knowledge of the deal told Reuters.

Fortis dispatches offer document to Parkway shareholders; Closing date: Aug 12

July 15th, 2010 | No Comments

Fortis Healthcare today dispatched a voluntary conditional cash offer document to the shareholders of Singapore-based Parkway Holdings, Fortis’ financial advisor RHC Holdings Private said, reported The Economic Times of India.

The offer closing date is set for 5.30 p.m. on Aug 12.

Indiaâ€™s Fortis revokes 39 million pledged shares

July 5th, 2010 | No Comments

Fortis Healthcare (FOHE.BO), locked in a battle to take control of Singapore’s Parkway Holdings (PARM.SI), said on Monday the owners of the Indian hospital chain had revoked about 39 million pledged shares, or nearly 10% of total outstanding equity.

After the transaction, the percentage of shares pledged to total number of Fortis’ outstanding shares was roughly 31%, the company said in a disclosure to the Bombay Stock Exchange.

Parkway +7.3%; Fortis may be testing market: OCBC

July 2nd, 2010 | No Comments

Parkway Holdings (P27.SG) gaps up at opening, last +7.3% at $3.83, as investors hold out for Khazanah Nasional to unveil new bid to counter Fortis Healthcare’s (532843.BY) $3.80/share general offer.

“We believe the offer, which is strategically priced in our view, is likely an attempt to test the market’s reaction (including Khazanah’s) and to quell fears that Fortis may overpay for Parkway,” says OCBC analyst Kevin Tan; notes price only slightly above Khazanah’s $3.78/share offer.

Parkway shares open 8.4% higher on Fortis counterbid

July 2nd, 2010 | No Comments

Shares of Singapore hospital operator Parkway Holdings (PARM.SI) rose 8.4% on Friday after Indian healthcare firm Fortis (FOHE.BO) launched a counterbid which valued the company at US$3.1 billion ($4.3 billion).

Around 0100 GMT, Parkway shares were traded at $3.87, up 8.4% from Wednesday. The stock was suspended from trading on Thursday.

Fortis battles Khazanah with US$3.1b deal for Parkway

July 1st, 2010 | No Comments

India’s Fortis Healthcare and its founding family launched a bid valuing Singapore hospital operator Parkway Holdings (PARM.SI) at US$3.1 billion ($4.3 billion), topping a rival offer by Malaysian state fund Khazanah.

Fortis (FOHE.BO), which controls just over 25% of Parkway, had intended to build a controlling stake in the firm before Khazanah made a surprise US$835 million partial offer in May to lift its stake to 51.5%.

Fortis Health plans to keep Parkway listed in Singapore

July 1st, 2010 | No Comments

Fortis Healthcare plans to keep Parkway Holdings listed in Singapore, Parkway Chairman Malvinder Singh said at a briefing in Singapore today.

Fortis said today it will pay $3.80 a share in cash to buy shares of Parkway it doesn’t already own.

{jcomments on}

Parkway battle hots up as Fortis eyes $4.3b deal

July 1st, 2010 | No Comments

India’s Fortis Healthcare launched a bid valuing Singapore hospital operator Parkway Holdings (PARM.SI) at US$3.1 billion ($4.3 billion), topping a bid by rival suitor Malaysian state fund Khazanah.

Fortis (FOHE.BO), which controls just over 25% of Parkway, had intended to build a controlling stake in the firm before Khazanah made a surprise US$835 million partial offer to lift its stake to 51.5%.

Fortis to brief reporters on Parkway offer at 2:30 p.m.

July 1st, 2010 | No Comments

Fortis Healthcare will brief reporters on its offer to buy all of Parkway Holdings at 2:30 p.m. in Singapore today, according to an e-mailed invitation.

{jcomments on}

Fortis offers $3.80 a share for remainder of Parkway: Update

July 1st, 2010 | No Comments

Fortis Healthcare offered to buy all of Parkway Holdings for $3.80 a share, topping a partial bid by Khazanah Nasional Bhd. for control of Asia’s largest hospital operator.

Fortis’s offer, made in a statement today, values Singapore-based Parkway at $4.3 billion based on Bloomberg calculations. It is 0.5% more than the $3.78- a-share bid by Khazanah, which sought to raise its stake to 51.5%. Parkway shares closed at $3.57 on the Singapore exchange yesterday and were halted from trading today pending the announcement.

Fortis offers to buy all Parkway shares for $3.80 each

July 1st, 2010 | No Comments

Fortis Healthcare offered to buy all shares of Parkway Holdings for $3.80 each, topping a partial bid by Khazanah Nasional Bhd.

{jcomments on}

Parkway halts trade as Indiaâ€™s Fortis prepares move

July 1st, 2010 | No Comments

India’s Fortis Healthcare (FOHE.BO) is widely expected to outline a counter offer for Singapore hospital operator Parkway (PARM.SI) later on Thursday, in a direct challenge to Malaysian state investor Khazanah which has made a $835 million offer to control the Singapore firm.

Parkway (PARM.SI) has requested a trading halt ahead of an announcement by the Indian firm, which could be made later in the day, sources briefed on the matter said.