Following a prolonged dispute linked to Fortis’ former founders and promoters — brothers Malvinder Singh and Shivinder Singh — as well as litigation involving Japan-based Daiichi Sankyo Co arising from its acquisition of Ranbaxy Laboratories, India’s Securities and Exchange Board (SEBI) on Oct 1 gave the green light for IHH to proceed with its mandatory open offer.
Navigating the country’s business and political landscape, however, will be challenging for the healthcare group
IHH Healthcare Bhd’s investment in Fortis Healthcare has been among the most complex overseas ventures ever undertaken by a Malaysian private healthcare group. But after seven years of legal and regulatory uncertainty, a clearer path has finally emerged.
