22nd Jun 2015 06:10
LONDON (Alliance News) - FTSE 250-listed private healthcare provider Spire Healthcare Group PLC on Monday said the major shareholder in South Africa-based private hospital group Mediclinic has acquired a 29.9% stake in the company for GBP432 million.
The shareholder, Remgro, has acquired the stake in Spire at 360 pence per share. Spire shares closed at 320 pence on Friday. Spire said the intention is for Mediclinic to acquire the stake in Spire from Remgro in the "near future". Mediclinic and Remgro have confirmed they have no intention to acquiring the rest of Spire.
As part of the investment, Mediclinic and Spire have agreed to explore options on how they can work together.
Also as a result of the deal, Remgro will have the right to nominate one director to the board of Spire.
By Sam Unsted; [email protected]; @SamUAtAlliance
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