Fortis Healthcare Limited (FORTIS.BO)

UPDATE 1-IHH Healthcare unit sues Japan's Daiichi Sankyo over Fortis deal

Malaysia's IHH Healthcare on Tuesday said its unit filed a claim against Japan's Daiichi Sankyo in mid-October seeking damages in excess of 20 billion yen ($131.86 million) in relation to its stake buy in India's Fortis Healthcare. On Oct, 16, Northern TK Venture filed a claim against the Japanese pharmaceuticals manufacturer stating it caused losses to the company by preventing it from proceeding with open offers to buy a stake in Fortis Healthcare in 2018. IHH Healthcare in December 2018 halted its open offer to buy an additional 26% stake in Fortis after a court ruling ordered status quo to be maintained after Daiichi filed a contempt plea against Fortis founders, according to media reports.