Cash strapped brothers Malvinder and Shivinder Singh are in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity, said four sources aware of the transaction.
The quantum of stake sale is yet to be finalised but sources said it will be a minimum of 26%. Beyond that, the acquisition will trigger an open offer for an additional 25% equity. The current market cap of the Fortis Healthcare is Rs 7909 crore.