NETCARE LIMITED - Voluntary disclosure of agreement to acquire Brockton Capital stake in General Healthcare Group ('GHG)
NTC 201301240004A
Voluntary disclosure of agreement to acquire Brockton Capital stake in General Healthcare Group ('GHG")
NETCARE LIMITED
(Registration number 1996/008242/06)
Code: NTC
ISIN number:ZAE000011953
("Netcare" or "the company")
VOLUNTARY DISCLOSURE OF AGREEMENT TO ACQUIRE BROCKTON CAPITAL
STAKE IN GENERAL HEALTHCARE GROUP ('GHG")
Shareholders are advised that:
(i) Netcare has purchased the interests in GHG previously owned by entities
managed by Brockton Capital LLC (collectively "Brockton Capital") for a cash
consideration of £11 million; and
(ii) Netcare has simultaneously agreed to sell to its other GHG partners (being
Apax Partners and London & Regional Properties) certain interests in the
GHG property companies which house the 35 properties acquired in 2006
(“GHG PropCo 1”) previously managed by Brockton Capital.
(collectively “the transactions”).
As a result of the transactions, Netcare's beneficial interest in BMI OpCo, the operating
company within the GHG Group, and GHG PropCo 2, which consists of six hospital properties
acquired from Nuffield in 2008, is now 53.72% and its beneficial interest in GHG PropCo 1
remains at 50.0%.
Effective immediately, Brockton Capital, and any entities advised by Brockton
Capital, no longer maintain any involvement with GHG, its operating brand BMI
Healthcare, or any other related holdings or subsidiaries.
The transactions fall below the categorisation thresholds of the JSE Limited Listings
Requirements and this announcement is made on a voluntary basis.
Johannesburg
24 January 2013
Sponsor
Nedbank Capital
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