The discussions between IHH Healthcare Berhad, Ramsay and Sime Darby Holdings, where IHH has proposed to acquire 100% of Ramsay Sime Darby Health Care Sdn Bhd, have resulted in a non-binding agreement.
“The board of IHH wishes to announce that discussions between IHH, Ramsay and Sime Darby Holdings have concluded and that the discussions have not resulted in a binding agreement”.
IHH Healthcare, on March 22, announced that it has proposed to acquire 100% of Ramsay Sime Darby Health Care Sdn Bhd. Ramsay Sime Darby Health Care Sdn Bhd is the 50:50 Asian joint venture company of Ramsay and Sime Darby Holdings.
Under the indicative proposal, the conditional indicative enterprise value for Ramsay Sime Darby is at 5.67 billion ringgit ($1.83 billion) or US$1.35 billion on a cash-free, debt-free basis.
Shares in IHH closed at $1.94 on Sept 8.
