Most of Singapore’s top domestic law firms got in on the scrum that saw Malaysia’s sovereign wealth fund outbid an Indian health care group to acquire Parkway Holdings Ltd., Southeast Asia’s largest hospital chain, for around $2.6 billion. The deal was announced Monday.
The bid by a wholly owned subsidiary of Khazanah Nasional, an investment arm of the Malaysian government, beat out a $2.3 billion bid by India’s Fortis Healthcare for Parkway. Khazanah initially put forth a partial offer of $835 million in May in an attempt to increase its stake in Parkway from 23.9 to 51 percent, according to this news report from Dow Jones.
