IHH

Private equity firms CVC Capital Partners and TPG Capital also submitted initial bids, one of the sources said

IHH indicated last week that it was ready to go ahead with the stalled open offer if the capital markets regulator allowed it

Taking legal advice on next steps to pursue open offer for 26% stake in Fortis

The group had acquired a 31 per cent controlling stake in Fortis in 2018, which triggered a mandatory open offer to acquire another 26 per cent of Fortis shares from the market

The market regulator said for share acquisition, bulk deals more transparent than off-market route

IHH is planning to use the funds infused in Fortis to finance the Religare Health Trust acquisition