May 29, 2017 Last Updated 9:20 AM, May 26, 2017

Remgro acquires 29.9% stake in Spire Healthcare

ABN – Remgro has announced plans to acquire a 29.9% shareholding price in Spire Healthcare for £432 million (US$689.5 million).

Remgro is a major shareholder in the South Africa-based private hospital group Mediclinic, who then intends to acquire the holding from Remgro.

Mediclinic and Remgro have confirmed that they do not intend to take over the whole of Spire.

Spire CEO Robert Roger said: "We welcome Remgro, and in due course Mediclinic, as a new long term shareholder in our business.

“This is an exceptional opportunity for us to gain a strategic investor who understands our business and growth ambitions as we develop our asset base to meet the significant capacity growth we expect for the UK private healthcare sector in the medium to long term and we look forward to working with them to explore ways our two businesses can co-operate to serve both our patients and our shareholders even more effectively."

@ABNetworkOnline

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