While details are scant, sources indicate that the Hong Leong-TPG team is paying around US$1.2 billion ($1.7 billion) cash for the hospital business. This is not too far off from media estimates, for instance Bloomberg reporting last month that a deal could value Columbia Asia’s hospital business, excluding the India operations, at US$1.2 billion.
KUALA LUMPUR (Sept 11): The Hong Leong group in partnership with private equity firm TPG has won a bid to buy the hospital business of Columbia Asia group in Southeast Asia, sources say.
“They clinched it after a sizeable top-up to their initial bid,” a source tells theedgemarkets.com, describing it as an “expensive” acquisition.
