IN BRIEF: High Court sanctions Mediclinic takeover by Remgro

Mediclinic International PLC - Stellenbosch-based private healthcare provider - Says High Court of Justice of England and Wales sanctions takeover by consortium led by Johannesburg investment firm Remgro Ltd. Deal values Mediclinic at around GBP3.7 billion. Consortium comprises MSC Mediterranean Shipping Co SA subsidiary SAS Shipping Agencies Services Sarl and Manta Bidco Ltd, a newly formed company owned by Remgro and SAS. Consortium in August 2022 announced agreement on terms of Bidco's cash offer for all Mediclinic shares not already owned by Remgro subsidiaries. Scheme of arrangement was sanctioned by High Court following a hearing yesterday. The sanction will take effect tomorrow, one business day later than specified in Mediclinic's timetable announced on Tuesday last week. Suspension of trading in Mediclinic shares in London is expected to take effect tomorrow, with cancellation effective next Tuesday morning. Shares also will be suspended in Johannesburg and Sydney, effective tomorrow, with cancellation effective June 7.

Mediclinic current London stock price: 500.50 pence, flat on Thursday

12-month change: up 34%

Mediclinic current Johannesburg stock price: ZAR118.10, up 0.2% on Thursday

12-month change: up 64%

By Emma Curzon, Alliance News reporter

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