Thursday, April 7, 2011

#Flash* Khazanah to sell 30pct stake in healthcare unit to Mitsui for USD1.06b

KUALA LUMPUR: Khazanah Nasional Bhd will sell a 30% stake in its unit Integrated Healthcare Holdings Ltd to Japanese trading house Mitsui & Co for about 90 billion yen (US$1.06 billion), wire reports said

Mitsui President Masami Iijima will meet Malaysian Prime Minister and Khazanah Chairman Datuk Seri Najib Razak on Thursday, April 7 to ink the deal.

Integrated Healthcare Holdings owns leading hospitals in Asia. Along with the recently acquired Singapore's Parkway Holdings Ltd, it also counts a Malaysian hospital group and medical school among its medical facilities, and also holds about 12% stake in India's Apollo Hospitals, the Nikkei business daily said

The Nikkei said the investment house will dispatch part-time directors and other personnel of the trading house to Integrated Healthcare, as well as propose a new medical business.

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