Malvinder Singh's Fortis Healthcare has walked out of the Parkway deal saying that the valuations have gone too far and that it does not want to be a part of it.

This means that the Malaysian state investor, Khazanah is going to win in the deal in which the Asia's biggest listed hospital operator is involved. The total money involved in the deal is $3.3 billion.

This is going to be the biggest acquisition by Khazanah and it has offered around S$3.95 ($2.88) per share for all the shares of Parkway. This is much higher than what Fortis had offered for the same at

S$3.80 for the same.

And now that Fortis has moved out of the deal and now the deal is going to get over in the next two months time. The Malaysian move is trying to expand itself in Asia which is seeing booming health care market.

Both Khazanah and Fortis are having 25 per cent stake in Parkway at present. Fortis had bought 24 per cent in Parkway from TPG in March and had paid around S$3.56 per share for the same.