IHH Healthcare of Malaysia sued Daiichi Sankyo of Japan for damages over 20 billion yen ($131.86 million) over its stake investment in Fortis Healthcare of India. Illegal intervention, conspiracy, malicious lie, and defamation are claimed…
In mid-October, Malaysia’s IHH Healthcare filed a claim against Japan’s Daiichi Sankyo for damages exceeding 20 billion yen ($131.86 million) for its stake buy in India’s Fortis Healthcare.
Northern TK Venture sued the Japanese pharmaceuticals maker on Oct. 16 for prohibiting it from making open proposals to buy Fortis Healthcare shares in 2018.
Media reports say IHH Healthcare halted its open offer to buy a 26% interest in Fortis in December 2018 after a court verdict upheld the status quo after Daiichi filed a contempt case against Fortis founders.
“The claims filed by NTK against Daiichi Sankyo are tort claims premised on the latter’s unlawful interference with NTK’s trade or business, conspiracy of Daiichi Sankyo and other persons, malicious falsehood and defamation under the applicable substantive laws,” IHH stated on Tuesday.
A tort claim is a court-filed wrong claiming injury or harm.
IHH, Asia’s largest private healthcare group, said NTK is seeking an injunction to prevent Daiichi Sankyo from defaming it going forward. ($1 = 151.6800 yen)
Conclusion
IHH Healthcare of Malaysia sued Daiichi Sankyo of Japan for damages over 20 billion yen ($131.86 million) over its stake investment in Fortis Healthcare of India. The claim argues that Daiichi prevented the business from making open approaches to buy Fortis Healthcare in 2018. In December 2018, IHH Healthcare halted its open offer to buy a 26% interest in Fortis after a court ordered status quo after Daiichi filed a contempt plea against Fortis founders. Tort allegations include unlawful interference with NTK’s trade or business, conspiracy, malicious untruth, and defamation. NTK also wants an injunction to stop Daiichi Sankyo from defaming it.
