Deals
Mediclinic Enters U.K. Market With $683 Million Spire Deal
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Mediclinic International Ltd., South Africa’s biggest private-hospital owner, plans to enter the U.K. after agreeing to buy a stake in Spire Healthcare Group Plc for 431.7 million pounds ($683 million).
The 29.9 percent shareholding will be bought from funds managed by Cinven Ltd., a European private equity firm, initially by Remgro Ltd., an investment company that’s Mediclinic’s biggest shareholder with a 41.4 percent stake. Spire’s shares soared 10 percent, the most since Cinven led an initial public offering of the London-based company in July, and traded 9.2 percent higher at 12:29 p.m. in the U.K. capital. That values the company at 1.4 billion pounds.