Fortis Expands Stake in Agilus amid CCI Approvals

Fortis Healthcare gains regulatory clearance for acquiring an additional 31.52% stake in Agilus Diagnostics, increasing its total share to 89.2%. Simultaneously, the Competition Commission of India (CCI) has approved the merger of power firms Diliigent Power and DB Power along with Decore Thermal Power's reorganization.

Fortis Healthcare Ltd has received the green light from the Competition Commission of India (CCI) to acquire an additional 31.52% stake in Agilus Diagnostics. This acquisition will raise Fortis' total share in Agilus from 57.68% to 89.2%. Fortis, a prominent multi-specialty hospital chain, announced the Rs 1,780 crore deal, valuing Agilus at Rs 5,700 crore in August.

The move is a strategic expansion for Fortis, further integrating its diagnostic services under Agilus. The CCI's approval is crucial given its role in monitoring market fairness and preventing monopolistic business practices.

In related actions, the CCI has also sanctioned the merger of power entities Diliigent Power with DB Power, as well as the restructuring of Decore Thermal Power post buyback. These decisions are part of regulatory efforts to ensure healthy competition and efficient business consolidations within the marketplace.

(With inputs from agencies.)