KUALA LUMPUR— Khazanah Nasional Bhd (Khazanah) has entered into an agreement with Mitsui & Co. Ltd. (Mitsui) of Japan, to divest 16 per cent or 1,403,087,400 shares in IHH Healthcare Bhd (IHH), at RM6.00 per share, for RM8.42 billion.
Following the divestment, Khazanah’s shareholding in IHH will decrease to 26.05 per cent.
IHH announced the Acibadem acquisition on Oct 8, 2018.
Proceeds raised from the divestment would be utilised for new investments and capital requirements.
Khazanah said it would continue to be a significant shareholder with representation on the board of IHH and provide stability to the shareholder base of IHH in the foreseeable future.
“The transaction clearly shows Mitsui’s confidence in the growth of the IHH platform.
“Khazanah remains committed to supporting the group and looks forward to the future success of IHH.
“The divestment is part of Khazanah’s strategy to grow the businesses that we are invested in and to find the appropriate time and value to create liquidity for our future capital and investment needs,” Khazanah Managing Director Datuk Shahril Ridza Ridzuan was quoted as saying in the statement.
Khazanah anticipated the transaction to be completed by the first quarter of 2019.