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UAE's Centurion Investments raises stake in NMC by 4.9 percent
July 1, 2017 / 11:29 AM / 5 months ago

UAE's Centurion Investments raises stake in NMC by 4.9 percent

ABU DHABI, July 1 (Reuters) - NMC Health, the London-listed and United Arab Emirates-based healthcare provider, said on Saturday its shareholder Centurion Investments had raised its stake in NMC by 4.9 percent.

Centurion Investments has acquired 10 million shares, representing 4.9 percent of the issued capital of NMC from B.R. Shetty, also a shareholder in NMC, a company statement said.

The shares were acquired at a price of 23.20 pounds per share.

Privately owned Centurion Investments and Shetty jointly hold 59.77 percent of the issued share capital of NMC, the statement said, adding that Shetty, as joint non-executive chairman, will remain a significant shareholder with a 19.44 percent interest in NMC.

Centurion holds 40.33 percent shares in the company.

NMC, founded by billionaire entrepreneur Shetty, is one of the largest private sector healthcare providers in the UAE. It operates general and specialist hospitals, pharmacies and medical centres across the UAE and plans to expand across the Gulf.

In March this year, NMC announced Shetty was stepping down from his position as chief executive to pursue other interests. (Reporting by Stanley Carvalho, Editing by Stephen Powell)

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