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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Ramsay Générale de Santé    GDS   FR0000044471

RAMSAY GÉNÉRALE DE SANTÉ

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Swedish healthcare firm Capio to sell French business to Vivalto Sante

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08/21/2018 | 04:01am EST

STOCKHOLM (Reuters) - Swedish healthcare company Capio plans to sell its French business to Vivalto Sante in a deal worth up to 455 million euros (408.05 million pounds)to focus on its less capital intensive Nordic operations.

Capio, which operates in Sweden, Norway, Denmark, France and Germany and had net sales of 15.3 billion crowns ($1.67 billion) last year, had said in June it was in talks on a possible divestment of its non-Nordic operations.

"The proposed transaction would accelerate the positioning towards the less capital intensive Nordic operations and build on Capio's leadership positions to further drive growth and shareholder value," Capio said in a statement.

The consideration for the proposed deal would be an upfront enterprise value of 425 million euros plus an earn-out contingent on this year's financial performance, up to a total enterprise value of 455 million.

The deal is subject to due diligence of Capio France by Vivalto, the approval of regulatory authorities and the approval of Capio's shareholders at an extraordinary general meeting, it said.

"It is anticipated that proceeds from a sale would be used partly to pay down Capio Group debt and partly as a return of cash to shareholders," the company said.

In July, Capio's board turned down a 661 million euro takeover offer for the whole group from the French subsidiary of Australian hospital group Ramsay Health Care, saying it undervalued its business.

Capio shares were up 1.75 percent at 0733 GMT.

($1 = 0.8744 euros)

($1 = 9.1511 Swedish crowns)

(Reporting by Johannes Hellstrom, editing by Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
CAPIO AB (PUBL) 0.00%End-of-day quote.31.59%
RAMSAY GÉNÉRALE DE SANTÉ -1.05% 18.8 Real-time Quote.13.10%
RAMSAY HEALTH CARE LIMITED -1.88% 76.02 End-of-day quote.6.82%
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Pascal Roché Chief Executive Officer & Director
Craig Ralph McNally Chairman
Damien Michon Chief Operating Officer
Arnaud Jeudy Director-Finance & Real Estate
Jean-Jacques Duchamp Vice Chairman
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