Mediclinic set to be delisted as Remgro-led takeover takes effect

(Alliance News) - Mediclinic International PLC said on Friday that the consortium led by the Johannesburg-listed investment firm, Remgro Ltd, had completed the acquisition of the healthcare group.

The Stellenbosch-based private healthcare provider said the High Court of Justice of England and Wales on Thursday sanctioned the takeover, which values Mediclinic at about GBP3.7 billion.

Back in August, Mediclinic accepted a sweetened offer from Manta Bidco Ltd, a consortium comprising Remgro and SAS Shipping Agencies Services Sarl - a subsidiary of MSC Mediterranean Shipping Co SA.

Before the deal, Remgro held a 45% stake in Mediclinic.

On Friday, Mediclinic said the deal had now become effective, meaning Bidco now owns the entire issued and to be issued share capital of the company. It is intended that Mediclinic shall shortly be re-registered as a private limited company.

Shares in Mediclinic were suspended on on the London Stock Exchange, the Johannesburg Stock Exchange and the Namibian Stock Exchange on Friday.

Mediclinic expects to delist from LSE on Tuesday next week. The delisting of Mediclinic shares from the JSE and the NSX is expected to take effect from commencement of trade on June 7.

By Artwell Dlamini, Alliance News reporter

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