Khaitan & Co advised IHH Healthcare Berhad (IHH) and Northern TK Venture Pte Ltd (NTK), a wholly owned subsidiary of IHH in relation to the following:
- Proposed subscription of equity shares of Fortis Healthcare Limited (Fortis) representing 31.1% of the expanded voting share capital, through preferential allotment by Fortis to NTK;
- Mandatory open offer for acquisition of up to 197,025,660 Fortis shares representing additional 26% of the expanded voting share capital of Fortis by NTK; and
- Mandatory open offer for acquisition of up to 4,894,308 fully paid up equity shares of representing 26% of the fully diluted voting equity share capital of Fortis Malar Hospitals Limited by NTK.
IHH is the world's 2nd largest provider of integrated healthcare services by market cap (USD 12.3 billion as of date) and is the largest private healthcare provider in Asia, operating approx. 10,000 beds in 49 hospitals across 9 countries.
The core transaction team comprised Haigreve Khaitan (Partner), Anand Mehta (Partner), Arindam Ghosh (Partner), Ashraya Rao (Associate Partner) and Soumyadri Chattopadhyaya (Principal Associate) with assistance from the following:
Corporate aspects: Saswat Subasit (Principal Associate), Sanket Shah (Senior Associate), Shreya Mukherjee (Senior Associate), Aparajita Chakraborty (Senior Associate) and Suditi Surana (Associate)
Open Offer aspects: Sudhir Bassi (Partner), Arpita Anand (Senior Associate) and Shashank Patil (Associate)
Litigation aspects: Sanjeev Kapoor (Partner), Saman Ahsan (Principal Associate), Aditya Ganju (Principal Associate) and Aayush Jain (Associate)
Competition aspects: Sagardeep Rathi (Associate Partner), Pranjal Prateek (Principal Associate), Akash Karmarkar (Associate) and Aman Singh Baroka (Associate)
Corporate (Due diligence): Niharika Mepani (Senior Associate) and Nupur Pandit (Associate)
About IHH Healthcare Berhad
IHH Healthcare Berhad is the world's 2nd largest provider of integrated healthcare services by market cap (USD 12.3 billion as of date) and is the largest private healthcare provider in Asia, operating approx. 10,000 beds in 49 hospitals across 9 countries.
About Fortis Healthcare Limited
Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka with 45 healthcare facilities (including projects under development), approximately 10,000 potential beds and 314 diagnostic centres.