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Fortis Healthcare, the country’s largest hospital chain, is in talks to divest its stake in Hong Kong and Vietnam arm for $380-400 million (Rs 2,100 crore). For its 65% stake in the Vietnam arm, Fortis Hoan My Corporation, the company has received an unsolicited bid of $80 million from Singapore-based Richard Chandler Corporation. The transaction is in the final stage as the two sides have already reached an understanding.
The company has also started the process of divesting its primary care chain in Hong Kong, Quality Healthcare. The deal for Quality Healthcare is expected to be valued between $280 and $320 million for which some leading hospital chains and financial investors have shown keen interest in the asset. Investment bank JPMorgan is the lead advisor to the deal and will shortly start the process of inviting bids.
In September 2011, Fortis Healthcare had invested about $665 million for its foray into international markets. Pursuant to divestment of its assets in Vietnam and Hong Kong, the company would recover its entire investment. It will however retain its presence in four countries - Singapore, Mauritius, Sri Lanka and Dubai. The company has completed the sale of its Australian subsidiary Dental Corporation last month for around $263 million.
The hospital chain, owned by billionaire brothers Malvinder Singh and Shivinder Singh, is planning to raise about $800 million amounting Rs 4,536 crore from sale of assets as well as issue of equity in the first six months of the current fiscal ending September 2013. The fund-raisings are intended to cut its debt burden of Rs 7,000 crore.
| Company Name | CMP |
|---|---|
| Apollo Hospital Ent. | 7092.05 |
| Max Healthcare Inst | 1068.40 |
| Narayana Hrudayalay | 1245.75 |
| Aster DM Healthcare | 420.70 |
| Global Health | 1113.70 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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