Fortis HealthcareNSE 0.06 % has appointed investment banking firm Arpwood Capital Private Limited to act as its second financial advisor on offers that have come in for the company.
Arpwood is expected to provide its independent opinion on present or future offers received from bidders for a potential “significant” equity investment, acquisition or restructuring of Fortis’ assets, the company told stock exchanges late on Friday.
It will also advise on the “appropriateness” of the process put into place for dealing with these offers, Fortis added.
On April 28, the Fortis board instructed the company’s management to appoint a second independent financial advisor, apart from Standard Chartered Bank, to assist and advise it with respect to the bids. The company also continues to be advised by Cyril Amarchabd Mangaldas as legal advisor.
Fortis has received offers from Manipal-TPG, IHH Healthcare Bhd, Radiant Life Care-KKR and Hero Enterprise Investment Office-Burman Family Office.
