Shares of Fortis Healthcare climbed more than 4 percent intraday on April 12 after the company entered talks to sell its stake in Singapore-listed Religare Health Trust (RHT), just three months after it acquired the company’s asset for Rs 4,650 crore.
“RHT Health Trust Manager Pte. Ltd wishes to inform unitholders that it has been notified by Fortis Healthcare International Ltd that they have each commenced discussions with various parties to explore the possibility of a sale of their interests in RHT and the trustee-manager, respectively,” Fortis Healthcare International, a subsidiary of Fortis Healthcare, said in a regulatory filing.
The transaction will help the healthcare company to raise funds as its acquisition by Malaysia’s IHH Healthcare Ltd is in limbo.
At 1144 hrs, Fortis Healthcare was quoting Rs 142, up 4.03 percent on the BSE.