Fortis' woes pile pressure on Singapore-listed RHT Health Trust
S$950 million deal to buy Fortis' healthcare assets at risk over hospital chain's debt and legal woes, probes by regulators and slashed credit rating
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Anita Gabriel
Singapore
THE deepening debt and legal woes assailing India's second largest hospital chain Fortis Healthcare, probes by regulatory authorities there, and the uncertain outcome of an intensifying bidding war for its assets by potential white knights have turned up the heat on Singapore-listed RHT Health Trust (RHT).
On tenterhooks is a planned S$950 million deal that RHT's trustee-manager had formally inked in mid-February for Fortis Healthcare - the trust's sponsor - to buy all its healthcare assets in a major transaction that could unlock value and line unitholders' pockets with a meaty special distribution from the sale proceeds.
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