SA’s most valuable hospital group, Mediclinic, has reached terms with its biggest shareholder, Remgro, on a buyout offer that values its shares at £3.7bn, reports BusinessLIVE.

Mediclinic’s board unanimously backs the £5.04 per share offer, made by a consortium including Remgro and shipping company MSC, who offered a premium of 35% to the hospital operator’s shares on 25 May, when an initial proposal was made.

Shareholders will now vote on the offer, which has also won the approval of independent advisers Morgan Stanley and UBS.

The transaction is expected to be completed in the first three months of 2023.

Mediclinic, also listed in London, runs a network of private hospitals in Switzerland, the Middle East and Southern Africa, and the initial offer had valued it at about £3.41bn, while the latest is the fourth one that was made.

Remgro, the investment holding company chaired by Johann Rupert, has 44.56% of Mediclinic and is looking for a 50-50 partnership with MSC.

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