By P.R. Venkat
Bangkok Dusit Medical Services PCL has entered into an agreement to sell its entire stake in Bumrungrad Hospital PCL for 18.61 billion baht ($613.30 million).
Bangkok Dusit is selling 180.72 million shares at THB103 a share to the acquirer, the company said Tuesday without identifying the name of the purchaser.
In August, Bangkok Dusit canceled its over $3 billion offer to buy shares that it didn't already own in Bumrungrad Hospital PCL, citing the Covid-19 situation.
Bangkok Dusit's then offer was for Bumrungrad's ordinary shares, preference shares and all convertible debentures, which could be converted to ordinary shares.
The purchaser has confirmed the availability of funds to buy Bumrungrad Hospital stake, Bangkok Dusit said.
Write to P.R. Venkat at email@example.com
(END) Dow Jones Newswires