October 2010
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Fortis to buy Hong Kong firm

Fortis Global Healthcare Holdings today said it would acquire the healthcare businesses of Hong Kong-listed Quality Healthcare Asia Ltd for around Rs 882 crore. In a statement issued today, the Malvinder and Shivinder Mohan Singh-promoted firm said the deal marked an important step in achieving the promoter family’s vision of creating a premier pan-Asia healthcare business. Fortis Global will acquire five subsidiaries of Quality Healthcare Asia (QHA). However, the elderly healthcare businesses of QHA will not be part of the deal. An agreement to this effect was reached between the two companies on October 8. […]

Suzlon Energy Plans to Consider Sale of Stock to IDFC Private Equity Fund

Suzlon India Limited, India’s largest wind-turbine maker, said it will consider today a proposal to sell 31.99 million shares to IDFC Private Equity Fund in a no-cash transaction. IDFC Private Equity, which invests in Indian infrastructure companies, will get preference shares in Suzlon in return for stock it holds in Suzlon unit SE Forge Ltd., it said in a statement to the Bombay Stock Exchange today. “This is a transfer of IDFC’s stake to the parent company and no money is involved,” Anoop Kharayat, Suzlon’s spokesman, said by telephone. Pune, western India-based SE Forge will become a wholly owned unit of Suzlon after the transaction, he said. Suzlon’s shares climbed 2.3 percent to 58.75 rupees at 11:33 a.m. local time in Mumbai. India’s 30-share benchmark Sensitive index, or Sensex, advanced 0.3 percent. The stock has fallen 35 percent this year compared with a 16 percent gain in the Sensex. […]