Fortis Healthcare Rises 7.5 Percent on Stake Sale in Australia
December 17, 2012 4:00 PM EST
The stake sale to British medical services group Bupa will help Fortis focus on high-end healthcare operations in Asia, it said in a statement late on Sunday.
The entire proceeds will be used to reduce the group's debt, Fortis group Chief Executive Vishal Bali told news channel CNBC TV18. The deal is expected to be completed in March 2013, Fortis said.
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