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LONDON (Alliance News) - Private equity firm Cinven Thursday said it plans to sell its remaining 8.4% stake in Spire Healthcare Group PLC, after Cinven sold a 29.9% interest in Spire to Remgro, the major shareholder in South Africa-based private hospital group Mediclinic, on Monday.
The disposal of the remaining stake will be through a placing of around 33.9 million Spire shares. The price of the offering will be determined through an accelerated bookbuild offering process. Bank of America Merrill Lynch, JP Morgan Cazenove and Morgan Stanley are acting as joint bookrunners and placing agents in relation to the offering.
Cinven sold a 10% stake in Spire for GBP136.4 million in April, and then a subsequent 29.9% to Remgro for GBP432 million, announced Monday.
Shares in Spire closed up 0.1% at 349.00 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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