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Fortis Healthcare (India) Ltd will pay about Rs 920 crore for an 86 per cent stake in group company Super Religare Laboratories.
This is based on the benchmark set by Avigo Capital Partners, a private equity fund manager, which has paid Rs 100 crore for a 9.27 per cent equity stake in Super Religare Laboratories (SRL).
Fortis Healthcare informed the stock exchanges on Tuesday that Avigo Capital Partners had bought the stake in SRL and that its board of directors approved to acquire SRL on the basis of Avigo's valuation of SRL.
Fortis had last week announced its decision to buy an 86 per cent stake in SRL, a leading diagnostic services company. Fortis' decision to buy the stake in SRL was aimed positioning it as an integrated healthcare company.
Fortis Healthcare's Rs 10 shares were marginally down on the BSE at Rs 158.15.
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