ranbaxy

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.

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 Japanese buyer aims to increase its initial stake in IndiaÆs largest pharmaceutical company to 50.1% for a total outlay of up to $4.6 billion.

Religare Enterprises, an Indian finance company started by the owners of Ranbaxy, has offered to pay $99 million for London's oldest stockbroking firm Hichens Harrison.

Support from long-term investors who are keen on the sector allows Fortis Healthcare to price its offering close to the top of the range.

AEGON to establish joint venture with Ranbaxy group company for insurance and asset management markets in India.