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One of the subsidiaries of Fortis Healthcare has fully acquired Religare Health Trust Trustee Manager for USD 14.9 million (about Rs 100 crore).
In November, the company had announced that it will fully acquire RHTTM, incorporated in Singapore that acts as a trustee manager to Religare Health Trust(RHT).
Fortis Healthcare said in a BSE filing that “We would like to inform you that the said transaction has been completed and one of our step down subsidiaries, Stellant Capital Advisory Services Pvt Ltd has acquired 100 percent of the issued shares of Religare Health Trust Trustee Manager Pte Ltd (RHTTM)… at a consideration of USD 14.9 million.”
Fortis has said that the acquisition was completed on February 2.
“Since the majority of assets owned by RHT are operated by Fortis and its subsidiaries, in order to have a more focused approach towards them strategically, it was decided to align the trustee manager with the Fortis, the controlling unit holder of RHT,” says the filing.
