- Mediclinic International to be acquired by Manta Bidco Limited in a cash deal.
- Acquisition aims to expand Remgro Limited and SAS Shipping Agencies Services S.à r.l.’s presence in the healthcare market.
- Delisting of Mediclinic shares from the Johannesburg and Namibian Stock Exchanges to occur.
In a major development within the healthcare sector, Mediclinic International plc, a leading private healthcare provider, has announced its recommended cash acquisition by Manta Bidco Limited. The acquisition is set to be executed through a Scheme of Arrangement under Part 26 of the Companies Act 2006.
Manta Bidco Limited is a newly formed company jointly owned by Remgro Limited and SAS Shipping Agencies Services S.à r.l., a subsidiary of MSC Mediterranean Shipping Company SA. The acquisition of Mediclinic International, a prominent player in the industry, reflects the strategic interests of Remgro Limited and SAS Shipping Agencies Services S.à r.l. as they seek to expand their presence in the healthcare market.
As part of the acquisition process, Mediclinic shares will be delisted from the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX). The delisting from the JSE, due to non-compliance with the public spread provisions, will take effect on Wednesday, 7 June 2023.
The recommended cash acquisition provides an opportunity for Mediclinic shareholders to realize the value of their investments at an attractive premium. The transaction is subject to the approval of relevant regulatory authorities and the shareholders of Mediclinic International.
To ensure a smooth process, Mediclinic has engaged renowned financial advisers and transaction sponsors. Morgan Stanley, UBS, and The Standard Bank of South Africa Limited are serving as financial advisers to Mediclinic, while Nomura International plc, M&M Capital, Centerview Partners UK LLP, and Credit Suisse are advising the consortium comprising Remgro and SAS Shipping Agencies Services S.à r.l.
Upon completion of the acquisition, Mediclinic International will experience significant changes in ownership and management. This transition is expected to bring new perspectives and opportunities for the company’s growth and expansion in the healthcare sector.
Investors and industry observers are eagerly awaiting the outcome of this strategic move and its potential impact on Mediclinic International and the overall healthcare landscape.
