Fortis to use cash and debt to fund Singapore co buy

Fortis to use cash and debt to fund Singapore co buy

New Delhi: India’s hospital chain Fortis Healthcare (India), majority-owned by billionire Singh brothers, will use a mix of fresh debt and free cash to fund the acquisition of its Singapore-based group firm, a company’s presentation showed on Wednesday.

Fortis India will also assume the liability of $390 million of Fortis International’s debt as part of the $665 million-deal.

In September, Fortis had said it would acquire Fortis Healthcare International to bring under one roof all the group’s healthcare businesses.

Fortis India plans to raise $175 million by the end of December to fund the deal its chief executive had said on Monday.

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