Al Noor merger gets unconditional OK from SA Competition Tribunal

Emirates-based healthcare provider Al Noor Hospitals’ proposed merger with South Africa’s Mediclinic has been approved unconditionally by South Africa’s Competition Tribunal.

The merger, which the company said would create one of the world's largest acute hospital operators outside the US, was announced in October and approved by Al Noor shareholders in December.

Under the terms of the deal, Al Noor will acquire Mediclinic, with shareholders receiving 0.625 new shares for each Mediclinic share held.

The proposed deal will result in Mediclinic shareholders owning 84% - 93% of the enlarged group.

At 0856 GMT, Al Noor shares were up 0.2% to 1,159p.