Two groups bid for a stake in NMC Health

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The target stake is jointly owned by the chairman of Abu Dhabi-based investment firm KBBO Group, Khalifa Butti Bin Omeir, UAE-based businessman Saeed Bin Butti Al Qebaisi, and Infinite Investment, a vehicle linked to the two men.

Thursday 22, August 2019 BY KUDAKWASHE MUZORIWA

Two groups, including one backed by China's Fosun, have made competing offers to acquire a 40 per cent stake in London Stock Exchange-listed NMC Health worth up to $1.9 billion, reported Reuters.

NMC Health's businesses include an extended portfolio of hospitals, day surgery centres as well as clinics and pharmacies across the UAE, however, the healthcare group’s single biggest shareholder, B.R Shetty, who is also the founder of the company, is not planning to sell his 19 per cent stake.

Additionally, the deal, which shows the growing interest of Chinese companies in the Middle East, could allow the UAE-based investors to realise significant gains after they bought the stake in 2011 for $1 billion.

Prasanth Manghat, the Chief Executive of NMC Health, said that the firm is excited about its future prospects, adding that the management is committed to all shareholders and all actions will be in best interest of all shareholders.

TAGS : Fosun, NMC Health, London Stock Exchange, B.R Shetty, KBBO Group, Infinite Investment, Khalifa Butti Bin Omeir

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