Munjal-Burman deal may unravel as PEs draw support to oust Fortis directors

YES Bank's stand on this matter may be crucial as it is also one of the major shareholders

The Fortis takeover deal might be in for new twists as private equity (PE) funds East Bridge Capital and Jupiter Asset Management, which had demanded the removal of four directors from the board of Fortis Healthcare Ltd (FHL), are likely to oppose the board's decision to choose Hero Enterprise-Burman Family Office offer for the hospital chain.

According to media reports, sources close to the PE funds have claimed that they favoured the offer made by Malaysia's IHH Healthcare that valued Fortis at Rs 175 a share. East Bridge and Jupiter Asset Management together hold 12.04 per cent stake in FHL. 

A Livemint