Fortis Healthcare Ltd (FHL) today said KKR-backed Radiant Life Care has made a binding offer to acquire its Mulund-based hospital for Rs 1,200 crore as part of its revised deal to gain control of the healthcare major.
The company received the revised offer today, FHL said in a filing to BSE.
"In order to provide immediately liquidity to FHL, we would like to make a binding offer to purchase Fortis Mulund hospital without due diligence and as a going concern at an enterprise value of Rs 1,200 crore as the first step," Radiant said in its revised offer.
The transaction would provide an immediate liquidity og Rs 680 crore for FHL, according to the new offer.
About earlier non-binding offer, Radiant had offered to acquire at least 26 per cent stake in FHL at Rs 126 per share, excluding its diagnostic business SRL.
Radiant's offer comes after Malaysia's IHH Healthcare Berhad today made a binding offer to immediately infuse Rs 650 crore in the Indian firm as part of an overall proposal to invest Rs 4,000 crore.
The revised offer of the Malaysian firm came two days ahead of a meeting of Fortis Healthcare Ltd (FHL) board to consider recommendation by an expert advisory panel formed to finalise evaluation process of only binding offers.
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