•    Khazanah Won Control for Parkway; Fortis Bowed Out with Handsome Profits

Both Fortis and Khazanah intended to embark on expansion in the region's booming healthcare market via Parkway, which runs hospitals in Singapore, Malaysia, India and China.

Khazanah -- in its biggest acquisition overseas -- said it was offering around S$3.95 (US$2.88) per share for all Parkway shares it does not own, or about 76%, topping the S$3.80 offered by Fortis. Fortis bows out in the process but pocketed a handsome profit of S$116.7 million profit on its Parkway stake to look for other opportunities. At the end of the day, Khazanah got its gem & Fortis smiled widely with some windfalls.

Shares of Fortis, controlled by the past Ranbaxy generic duo Malvinder & Shivinder Singh had surged more than 6% in Mumbai tock excahnge just ahead of Khazanah's confirmation. Analysts predict that the change in ownership won't make much difference to Parkway's future growth strategy or operations because Khazanah was already a large shareholder. Do you own Parkway shares...?

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