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South Africa's Netcare to buy rest of BMI Healthcare for $100 mln
September 28, 2017 / 1:33 PM / 3 months ago

South Africa's Netcare to buy rest of BMI Healthcare for $100 mln

JOHANNESBURG, Sept 28 (Reuters) - South Africa’s Netcare will buy the rest of Britain’s BMI Healthcare from private equity firm Apax and other partners in an all-share deal, the company said on Thursday.

“Apax will receive the right to subscribe for 54 million shares in Netcare over the course of the next five years,” Netcare said in a statement.

Apax can subscribe to shares at 26.50 per share or a 25 percent premium to Netcare’s share price around its full-year results announcement in November, giving the deal a value of at least 1.4 billion rand ($103 million). ($1 = 13.5370 rand) (Reporting by TJ Strydom; Editing by Tiisetso Motsoeneng)

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