Fortis Healthcare has entered into an agreement with RGAM Investment Advisors and other shareholders to fully acquire Religare Health Trust Trustee Manager Pte Ltd for $14.9 million (about Rs 100 crore).
“One of our step down subsidiaries, Stellant Capital Advisory Services Pvt Ltd (Stellant), has entered into a share purchase agreement with RGAM Investment Advisors Pvt Ltd and other shareholders, to acquire 100 per cent stake in Religare Health Trust Trustee Manager Pte Ltd (RHT) at a consideration of $14.9 million,” Fortis Healthcare said in a BSE filing.
“Since the majority of the assets owned by RHT are operated by Fortis and its subsidiaries, in order to have a more focused approach towards them strategically, it is decided to align the trustee manager with sponsor of RHT, i.e. Fortis,” the filing added.
The transaction is subject to necessary, statutory and regulatory approvals.
RHT is a Singapore registered wholly-owned subsidiary of Religare Enterprises Ltd, a diversified financial services group listed on both National Stock Exchange and Bombay Stock Exchange.