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By Stuart Condie
SYDNEY–Ramsay Healthcare Ltd. said it and partner Sime Darby Holdings Bhd. received a takeover proposal for their Asian joint venture at a conditional enterprise value of about US$1.35 billion.
The Australian private hospital operator on Tuesday said IHH Healthcare Bhd. had made a conditional non-binding proposal to acquire Ramsay Sime Darby Health Care Sdn. Bhd. The valuation is on a cash-free, debt-free basis.
Ramsay said it and Sime Darby granted IHH four weeks of exclusivity to conduct due diligence and negotiate a sale and purchase agreement.
Shares in Ramsay were up 1.8% at A$64.395.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
March 21, 2022 20:13 ET (00:13 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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