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BRIEF-Fortis Healthcare Invites Munjal-Burman, TPG-Manipal, IHH To Participate In Fresh Bidding

May 29 (Reuters) - Fortis Healthcare Ltd:

* INVITES INTERESTED PARTIES TO SUBMIT FRESH PROPOSALS IN RELATION TO BID PROCESS

* DECIDED TO INVITE 3 OF BIDDERS NAMELY MUNJAL-BURMAN CONSORTIUM, TPG-MANIPAL CONSORTIUM, IHH HEALTHCARE TO PARTICIPATE IN PROCESS

* OTHER INTERESTED PARTIES INVITED TO SUBMIT EXPRESSION OF INTEREST NO LATER THAN 5 P.M. IST ON 31ST MAY 2018

* BIDDERS WILL BE PROVIDED 10 DAYS FOR FINANCIAL AND LEGAL DUE DILIGENCE

* CO APPOINTED STANDARD CHARTERED BANK AND ARPWOOD CAPITAL AS FINANCIAL ADVISORS TO THE TRANSACTION

* SAYS CO APPOINTED CYRIL AMARCHAND MANGALDAS AND VAISH ASSOCIATES AS LEGAL ADVISORS

* BINDING BIDS TO BE SUBMITTED BY BIDDERS SHOULD MAKE MINIMUM INVESTMENT OF INR 15 BILLION INTO FHL BY WAY OF PREFERENTIAL ALLOTMENT

* BINDING BIDS SHALL HAVE PLAN FOR FUNDING OF RHT HEALTH TRUST ACQUISITION, HAVING LONG STOP DATE OF SEPTEMBER 30

* BINDING BIDS SHALL HAVE PLAN FOR PROVIDING EXIT TO PRIVATE EQUITY INVESTORS OF SRL

* BINDING BIDS TO BE SUBMITTED BY BIDDERS SHALL INCLUDE PLANS FOR RETENTION OF CURRENT MANAGEMENT AND EMPLOYEES

* BINDING BIDS TO INCLUDE SOURCES OF FUNDS TO FINANCE THE TRANSACTION, INCLUDING FIRM COMMITMENT LETTER FROM LENDERS Source text: http://bit.ly/2J9Oz7F Further company coverage: