Fortis Healthcare announced to divest 64 per cent stake in Dental Corporation Holdings (DC), Australia. The company's stake in DC will be sold to Bupa for 270 million Australian dollar (around Rs 1,554.36 crore) by March 2013. The deal is expected to be completed in March 2013 subject to shareholder and regulatory approvals. Fortis had entered DC in Jan 2011 and has since added considerable value to the business growing it from 140 dental practices to 190 dental practices in Australia and New Zealand.
Tuesday, 18 December 2012
Fortis to sell 64% stake in Dental Corporation to Bupa
Fortis Healthcare announced to divest 64 per cent stake in Dental Corporation Holdings (DC), Australia. The company's stake in DC will be sold to Bupa for 270 million Australian dollar (around Rs 1,554.36 crore) by March 2013. The deal is expected to be completed in March 2013 subject to shareholder and regulatory approvals. Fortis had entered DC in Jan 2011 and has since added considerable value to the business growing it from 140 dental practices to 190 dental practices in Australia and New Zealand.
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