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Fortis Healthcare has announced plans to demerge its hospitals business (Fortis Hospitals) into Manipal Hospital Enterprises Private Limited (Manipal Hospitals). According to a statement issued on late Tuesday night, the company said that the proposed transaction is subject to shareholders' approval, creditor's approval, applicable regulatory approvals (including Competition Commission of India, SEBI, stock exchanges and National Company Law Tribunal (NCLT)) and other customary conditions precedent.