Mediclinic to be taken over by Remgro consortium for £3.7bn

Hospital group Mediclinic has agreed to be bought by a consortium led by South Africa’s Remgro for around £3.7bn.

The consortium includes Remgro and SAS Shipping Agencies Services, which is a wholly-owned subsidiary of MSC Mediterranean Shipping Company.

Under the terms of the deal, Mediclinic shareholders will receive 504p in cash for each of their shares. This is a premium of around 23% to the closing share price on 7 June, which was the last day before market speculation of a takeover approach.

Mediclinic chair Dame Inga Beale said: "The recommended offer represents a near-term value realisation for Mediclinic shareholders at an attractive premium.

"Over 39 years, Mediclinic has developed into the leading international healthcare services group it is today. During this time, Remgro has remained a supportive long-term shareholder. Together with SAS, the consortium's resources will put Mediclinic in a strong position to continue to serve patients through our broad range of high-quality healthcare services."

Remgro is a diversified investment holding company listed on the Johannesburg Stock Exchange, which holds investments in the healthcare, consumer products, financial services, infrastructure, industrial and media industries.

The MSC group is a global business engaged in the shipping, terminals, logistics and cruises sector.