IHH Healthcare submits proposal to buy Ramsay Sime Darby for RM5.67b

KUALA LUMPUR (March 22): IHH Healthcare Bhd has submitted a confidential, conditional, non-binding and indicative proposal to acquire 100% of Ramsay Sime Darby Health Care Sdn Bhd for RM5.67 billion.

Ramsay Sime Darby is an Asian joint venture equally owned by Ramsay Health Care and Sime Darby Holdings Bhd (SDH).

In a bourse filing on Tuesday (March 22), IHH said Ramsay and SDH had agreed to a period of exclusivity to allow IHH to conduct due diligence and negotiate a sale and purchase agreement.

It said the discussions among IHH, Ramsay and SDH are preliminary and no agreement had been reached in relation to the indicative proposal.

“There is no guarantee that an agreement will be reached in respect of the indicative proposal or that a transaction will eventuate.

“IHH will update shareholders and the investing public on any material developments relating to the indicative proposal,” it said.

At market close, IHH was down 0.2% at RM6.51, with a market capitalisation of RM57.3 billion, while Sime Darby Bhd gained two sen to RM2.28, valuing it at RM15.53 billion.

Source: TheEdge - 23 Mar 2022