UBS Principal sells 5.44% stake in Fortis Healthcare for Rs 443 crore

UBS Principal Capital Asia today offloaded 5.44 per cent stake in Fortis Healthcare for over Rs 443 crore through an open market transaction.

According to bulk deal data available with the National Stock Exchange (NSE), UBS shed a total of 2,82,31,975 shares, amounting to 5.44 per cent stake, of Fortis.

The shares were sold on Rs 157 apiece, valuing the transaction at Rs 443.24 crore, the data showed.

Meanwhile, York Asian Opportunities Investments Master Fund, York Asian Strategic Meteric Master, York Multi-Strategy Master Fund together picked up 2,82,35,492 shares of Fortis.

Shares of Fortis closed at Rs 157.95 apiece on the NSE, down 0.6 per cent from the previous close.

Last week, Fortis had announced that its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee.

The company has received binding offers from four entities – KKR-backed Radiant Life Care, Malaysian major IHH Healthcare, Manipal/TPG consortium and Munjal and Burman family offices.

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