fortis

The founders of Religare Enterprises launch an open offer to minority shareholders as part of a plan to increase their stake in the Indian financial services firm to 85%, shortly after a failed bid for Parkway Hospitals.

Indian hospital operator Fortis Healthcare pays $686 million to become the largest shareholder in Singapore-based pan-Asia hospital group Parkway Holdings.

Fortis Healthcare, the hospital business promoted by the Singh family which previously also owned Ranbaxy, spends $187 million to acquire 10 hospitals from Wockhardt.

The Chinese insurance giant moves nearer to its goal of becoming an integrated financial services company, and gives private equity investor Newbridge Capital an exit route.

The collapse of the deal stalls the Chinese insurerÆs plan to become a financial conglomerate, but the market welcomes the development.

Barend Janssens becomes head of a new team charged with the task of building Fortis's private banking business in the region.

Paul Schuilwerve becomes senior managing director and head of merchant banking Asia-Pacific.

The Chinese insurance company pays $3.32 billion for the stake in Fortis's asset management subsidiary, gaining access to a business with $378 billion of assets under management.

The Chinese insurer pays $2.65 billion to become the largest shareholder in Fortis in a deal which both parties are calling highly synergistic.