Yes Bank: Acquired more than 17 percent share in Fortis Healthcare

New Delhi, March 13: Private lender Yes Bank on Tuesday announced it has acquired more than 17 per cent share in Fortis Healthcare, making the bank the largest shareholder in the healthcare major.

In a stock exchange filing, Yes Bank said the 17.31 per cent equity in Fortis has been acquired in lieu of the default in loan repayment by the promoters of the healthcare company.

"Yes Bank has acquired 89,781,906 equity shares, constituting 17.31 per cent of the paid-up share capital, having nominal value of Rs 10 per share of Fortis Healthcare Ltd, pursuant to invocation of pledge on the said equity shares subsequent to default by promoters group companies in the credit facility provided by the Bank," it said.