ID :
173801
Thu, 04/07/2011 - 12:34
Auther :
Shortlink :
https://oananews.org//node/173801
The shortlink copeid
MITSUI BECOMES KHAZANAH'S PARTNER IN INTEGRATED HEALTHCARE
KUALA LUMPUR, April 7 (Bernama) -- Khazanah Nasional Bhd has entered into definitive agreements with Mitsui & Co Ltd which will see the Japanese firm paying RM3.3 billion to become a 30 per cent shareholder in Malaysia's Integrated Healthcare Holdings Sdn Bhd.
Khazanah, the Malaysian government's investment holding arm, will own the remaining 70 per cent of Integrated Healthcare through its wholly-owned subsidiary, Pulau Memutik Ventures (PMV).
"This transaction of RM3.3 billion values Integrated Healthcare at a pre-transaction equity value of RM9.022 billion, a post-transaction equity value of RM11.0 billion and an enterprise value of RM14.612 billion," Khazanah said in a statement Thursday. (US$1=RM3.02)
Integrated Healthcare controls 100 per cent of Parkway Holdings Ltd, Pantai Holdings Bhd, IMU Health Sdn Bhd and a 8.8 per cent stake in Apollo Hospitals Enterprise Ltd. It has presence and projects under development in Malaysia, Singapore, Brunei, China, India and Abu Dhabi.
Under the agreement, Mitsui's nominated wholly-owned subsidiary will subscribe to 989 million new ordinary shares representing 18 per cent of the enlarged share capital of Integrated Healthcare and acquire 661 million existing ordinary shares representing up to 12 per cent of the enlarged share capital of Integrated Healthcare.
Integrated Healthcare will raise RM1.978 billion as new equity as part of this transaction whilst PMV will raise RM1.322 billion million from the sale in the form of Rights To Allotment (RTA) to be renounced in favour of Mitsui's subsidiary upon the fulfillment of condition precedents.
PMV and Mitsui’s subsidiary will also enter into a shareholders’ agreement, upon completion. Mitsui will nominate two members to the Boards of Integrated Healthcare and Parkway Holdings Limited following the completion of the transaction.
Khazanah, the Malaysian government's investment holding arm, will own the remaining 70 per cent of Integrated Healthcare through its wholly-owned subsidiary, Pulau Memutik Ventures (PMV).
"This transaction of RM3.3 billion values Integrated Healthcare at a pre-transaction equity value of RM9.022 billion, a post-transaction equity value of RM11.0 billion and an enterprise value of RM14.612 billion," Khazanah said in a statement Thursday. (US$1=RM3.02)
Integrated Healthcare controls 100 per cent of Parkway Holdings Ltd, Pantai Holdings Bhd, IMU Health Sdn Bhd and a 8.8 per cent stake in Apollo Hospitals Enterprise Ltd. It has presence and projects under development in Malaysia, Singapore, Brunei, China, India and Abu Dhabi.
Under the agreement, Mitsui's nominated wholly-owned subsidiary will subscribe to 989 million new ordinary shares representing 18 per cent of the enlarged share capital of Integrated Healthcare and acquire 661 million existing ordinary shares representing up to 12 per cent of the enlarged share capital of Integrated Healthcare.
Integrated Healthcare will raise RM1.978 billion as new equity as part of this transaction whilst PMV will raise RM1.322 billion million from the sale in the form of Rights To Allotment (RTA) to be renounced in favour of Mitsui's subsidiary upon the fulfillment of condition precedents.
PMV and Mitsui’s subsidiary will also enter into a shareholders’ agreement, upon completion. Mitsui will nominate two members to the Boards of Integrated Healthcare and Parkway Holdings Limited following the completion of the transaction.
