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Carlyle to Sell Medical Park Stake to Buyout Firm Turkven

Carlyle Group LP, the world’s second-biggest buyout firm, agreed with other shareholders to sell a majority stake in Turkish hospital chain Medical Park Saglik Hizmetleri AS to Turkven Private Equity.

Carlyle is selling a 40 percent stake, Can Deldag, the firm’s co-head for Turkey, the Middle East and Africa, said today on a conference call with reporters. Shareholders Sancak Group and Usta Group, which own 30 percent each, also agreed to sell 20 percent and five percent, respectively, giving Turkven a 65 percent stake, Semih Dinc, chief executive of Medical Park, said in a telephone interview today. Dinc and Deldag didn’t give financial details. The sale is subject to Turkish antitrust approval, Deldag said.

Medical Park owns 16 hospitals and employs 10,000 people in Turkey, offering buyers the opportunity to tap growing demand for health-care services. The company announced a plan in August to invest $300 million in four hospitals of the Liv Hospital Group in Istanbul, Ankara and Izmir, over three years.

Medical Park canceled its plan to sell bonds in international markets after the stake sale, Dinc said.

Carlyle and its partners hired Credit Suisse Group AG and Goldman Sachs Group Inc. to advise on the sale, the company said in September. TPG Capital and CVC Capital Partners Ltd. were among buyout firms also interested in acquiring the business, people familiar with the matter said in November.

Carlyle is continuing to study potential acquisitions in Turkey and is interested in consumer industries, Deldag said.

TPG Capital and CVC Capital Partners Ltd. were among private equity firms that had earlier shown interest to buy stake at the company, according to people with knowledge of the situation.

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