Old Mutual Limited Boosts Stake in Netcare, Powering Healthcare Growth

  • Old Mutual Limited acquires a 5.09% stake in healthcare provider Netcare Limited.
  • Acquisition complies with Companies Act and JSE Limited Listings Requirements.
  • Nedbank Corporate and Investment Banking sponsors the transaction, providing guidance and support.
Old Mutual

Netcare Limited (JSE: NTC) announced today that Old Mutual Limited, a prominent financial services company, has acquired a significant interest in the ordinary shares of the company. The acquisition, which complies with the Companies Act and JSE Limited Listings Requirements, has resulted in Old Mutual now holding a 5.09% stake in Netcare.

The acquisition of securities by Old Mutual represents a significant development in the shareholder structure of Netcare, underscoring the attractiveness of the healthcare provider’s business model and its growth potential within the industry. Netcare operates an extensive network of private hospitals, emergency medical services, and primary care clinics throughout South Africa, offering comprehensive medical services to communities.

In accordance with the requirements of section 122(3)(b) of the Companies Act and section 3.83(b) of the JSE Limited Listings Requirements, Netcare’s board assumes responsibility for the accuracy of the disclosed information. The board assures shareholders that the information provided is true and complete, without omitting any material details that could impact its importance.

Netcare has also filed the required notice with the Takeover Regulation Panel, as stipulated by section 122(3) of the Companies Act. This ensures transparency and compliance with regulatory standards during the acquisition process.

Serving as the sponsor for this transaction is Nedbank Corporate and Investment Banking, a division of Nedbank Limited. Their expertise and guidance have been invaluable throughout the acquisition process, providing support to both Netcare and Old Mutual.

The increased stake in Netcare by Old Mutual demonstrates confidence in the healthcare provider’s future prospects and the potential for growth within the sector. Netcare Limited remains committed to delivering high-quality medical services to communities across South Africa, and this strategic investment by Old Mutual further strengthens the company’s position in the healthcare industry.

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