Malaysia’s Sime Darby says no decision yet to sell healthcare JV with Ramsay

March 29 (Reuters) – Malaysian conglomerate Sime Darby (SIME.KL) said on Wednesday it has not yet decided to divest its Asia-focused healthcare joint venture with Australia’s largest private hospital operator Ramsay Health Care (RHC.AX).

The development comes a day after Reuters reported, citing sources, that the two parties were planning to revive the sale of the venture Ramsay Sime Darby Health Care, in a deal that could value the business at about 6 billion ringgit ($1.36 billion).

According to the sources, the companies were in talks with financial advisors to explore a sale of the joint venture to strategic investors.

Last March, Malaysia’s IHH Healthcare (IHHH.KL), one of Asia’s biggest private hospital operators, had submitted an indicative proposal to buy Ramsay Sime Darby Health Care.

The discussions were called off in early September, weeks after a group led by private equity firm KKR & Co Inc (KKR.N) withdrew a near $15 billion all-cash buyout offer for Australia-listed Ramsay Healthcare.

($1 = 4.4160 ringgit)

Reporting by Himanshi Akhand in Bengaluru; Editing by Rashmi Aich and Dhanya Ann Thoppil

Our Standards: The Thomson Reuters Trust Principles.

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