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Corporate News
18-Aug-17
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Fortis Cancer Care to sell its 79.43% stake in Lalitha Healthcare
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To promoters of Lalitha Healthcare
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Fortis Healthcare announced that Fortis Cancer Care ('FCCL'), a step down subsidiary of the Company has entered into a memorandum of understanding ('MoU') with Lalitha Healthcare Private Limited ('LHPL'), another step down subsidiary of the Company, Dr. Lakshmi Narayana Raju, Lakshmi Priya, S. Venkataramana Raju (collectively the 'Promoters of LHPL') and Anikrish Hospitals Private Limited, for, inter alia, sale of the entire shareholding held by FCCL, representing 79.43% of the total issued and paid up equity share capital of LHPL ('FCCL Shares'), to the Promoters of LHPL ('Proposed Transaction').
The MoU contemplates that FCCL, LHPL and the Promoters of LHPL will enter into a share purchase agreement ('SPA') for the sale of the FCCL Shares to the Promoters of LHPL.
Pursuant, to the consummation the Proposed Transaction the control and management of LHPL will be transferred to the Promoters of LHPL.
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