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News Roundup: Fortis To Reportedly Acquire Wockhardt Hospitals

22 August, 2009

Cox & Kings To Go Public – Here is another travel and tourism firm going public. After the IPO of Mahindra Holidays & Resorts, Cox & Kings India Ltd, a unit of the UK-based unlisted travel firm Cox and Kings, has filed the draft red herring prospectus (DRHP) with the SEBI. The IPO will be for 18,496,640 equity shares of Rs 10 each for cash, at a price to be decided through a 100% book-building process. The issue includes an offer for sale of 3,046,640 equity shares by Lehman Brothers Opportunity, Deutsche Securities Mauritius and Merrill Lynch Capital Markets Espana.(DNA)

GTL, Essar In Race For Aircel Tower Biz – Essar Infratel, Wireless Tata Telecom Infrastructure Ltd (WTTIL) and GTL Infrastructure are in the race to acquire Aircel Cellular’s passive telecom infrastructure, valued at around $2.5 billion. WWTIL and GTL Infrastructure have also quoted an initial bid price to Aircel Cellular, which would be reviewed after the due diligence procedures. (Business Standard)

Electrosteel Ties Up Strategic, PE Investors – Electrosteel Integrated Ltd. (EIL) promoted by Electrosteel Castings has achieved financial closure of Rs. 5,447 crore of debt for its integrated steel project in Siyaljori in Jharkhand. A British steel company has also been roped in as a as a strategic investor, which will pick up a 22% stake for around Rs. 400 crore. While a 39% stake will be held by parent company, some equity will also go to private equity firms. (Hindu)

ICICI Bank Keen To List Four Subsidiaries – Private sector lender ICICI Bank is looking at listing four of its subsidiaries as and when regulations permit and the markets become conducive. The units include ICICI Prudential Life Insurance and ICICI Lombard General Insurance, broking vertical ICICI Securities and housing finance venture ICICI Home Finance.(Economic Times)

Fortis May Acquire Wockhardt Hospitals – Fortis Healthcare, which has pursued a strategy of growing through high-profile acquisitions, is all set to buy some Fortis of Wockhardt’s key hospitals in a transaction that will see it edge closer to industry leader Apollo Group. Wockhardt may sell its 10-odd hospitals in Bangalore, Kolkata and Mumbai to Fortis for about Rs 900-1,000 crore. About six hospitals that Wockhardt runs through a management contract are not likely to be part of the deal. (ET)

 


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1 Comment
Kiran . 6 years ago

Good information

Thanks for posting

News Roundup: Fortis To Reportedly Acquire Wockhardt Hospitals

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