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India’s Fortis Healthcare (FOHE.BO) has hired RBS (RBS.L), Macquarie (MQG.AX) and Religare Capital to raise funds for a possible battle with Malaysia’s sovereign wealth fund for Singapore’s Parkway Holdings (PARM.SI), the Economic Times reported on Tuesday.
A consortium of banks are willing to fund up to US$1 billion ($1.39 billion), the newspaper said, citing its television channel ET NOW. Officials at Fortis Healthcare and the banks could not immediately be reached by Reuters for comment.
Fortis, which owns roughly 25% of Parkway, last week unveiled plans to raise as much as US$1.2 billion, positioning itself for a possible bidding war with Malaysia’s Khazanah for Parkway Holdings.
