- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 05:28 06:46 12:12 15:10 17:32 18:51
Dubai-based private equity manager Abraaj Capital has completed divestment of its entire 50 per cent shareholding in Acibadem Saglik Yatirimlari Holding and affiliated companies to Integrated Healthcare Holdings.
Under the agreement, Integrated Healthcare and Khazanah have acquired a combined 75 per cent shareholding in Acibadem from Abraaj Capital and the Aydinlar family through a combination of cash payment and the exchange of newly issued Integrated Healthcare shares.
With the conclusion of this transaction, Abraaj Capital emerges as a shareholder in Integrated Healthcare which will become one of the largest private healthcare providers in the world, with a broad footprint of assets in Malaysia, Singapore, India, Turkey and an operating presence in China, Brunei, Abu Dhabi, Central and Eastern Europe.
Integrated Healthcare is currently owned 70 per cent by Pulau Memutik Ventures Sdn.
Bhd, a wholly owned subsidiary of Khazanah, and 30 per cent by MBK Healthcare Partners Limited, a wholly owned subsidiary of Mitsui & Co.
Abraaj Capital’s investment in Acibadem through its Funds was predicated on a strong belief in the growth fundamentals of Turkey, the potential of the private healthcare industry, and Acibadem’s broad network of operating hospitals, brand equity and experienced management team.
Since the time of Abraaj Capital’s investment, Acibadem has grown to become one of Turkey’s largest private healthcare groups.
Follow Emirates 24|7 on Google News.