KUALA LUMPUR (June 28): Sime Darby Bhd said it has reached a decision with its partner Ramsay Health Care Ltd to explore the possibility of a sale of their 50:50 joint venture (JV) Ramsay Sime Darby Health Care Sdn Bhd.

“At this stage, there is no assurance that the sale process will result in a transaction.”

“Sime Darby will make the necessary announcement to Bursa Malaysia Securities Berhad if and when there is a definite corporate proposal by the company,” said the company in a Bursa filing.

Meanwhile, its trading securities will resume with effect at 10am on Wednesday (June 28).

In a Bursa announcement, its trading was halted with effect from 9am on the same day.

On March 29, the company said it had yet to make a decision after Reuters reported that the JV partners planned to revive the sale of Ramsay Sime Darby Health Care Sdn Bhd.

Reuters reported that the companies are in talks with financial advisors to explore a sale of the JV to strategic investors in a deal that could value the business at some RM6 billion.

On Sept 9, 2022, IHH Healthcare Bhd (IHH) announced its discussion with Sime Darby Holdings Bhd and Ramsay Health Care — for IHH’s proposed acquisition of 100% of the JV — had concluded without a binding agreement.

Read more:
Sime Darby: No decision to divest Ramsay Sime Darby Health Care
IHH says talks for planned acquisition of Ramsay Sime Darby for RM5.67b ended with no agreement
Frankly Speaking: What went wrong between IHH and Ramsay Sime Darby?