IHH Healthcare Bhd has made a $1.35 billion acquisition bid to Ramsay Health Care Ltd and Malaysia-based Sime Darby Holdings for their Asia joint venture, the Australian hospital operator announced today.
According to Ramsay Health Care, the proposal provides Ramsay Sime Darby an estimated enterprise value of 5.67 billion ringgit ($1.35 billion) on a cash-free, debt-free basis. Sime Darby and Ramsay Health Care both control 50% of Ramsay Sime Darby and have agreed to a four-week period of exclusivity to allow Malaysia’s IHH to undertake due diligence and negotiate a sale and purchase agreement.
IHH, Asia’s largest private healthcare organisation, confirmed the conditional, non-binding proposal, stating that the discussions were in their early stages and that there was no guarantee the deal would be completed. @LatestMalaysia
