(Updates with comment, background)
Sept 9 (Reuters) - Australia's Ramsay Health Care Ltd (RHC) said on Friday discussions to sell its joint venture with Malaysia-based Sime Darby Holdings to IHH Healthcare IHHH.KL had fallen through as it did not result in a binding agreement.
In late March, Ramsay Sime Darby - which is jointly owned by Ramsay Health Care and Sime Darby - got a 5.67 billion ringgit ($1.26 billion) buyout offer from IHH, Asia's largest private healthcare group.
"Ramsay confirms that discussions between Ramsay, Sime Darby and IHH in relation to the indicative proposal have concluded, and that the discussions have not resulted in a binding agreement for the sale of Ramsay Sime Darby," the Australian hospital operator said on Friday. (https://bit.ly/3eAssIK)
Sime Darby and IHH did not immediately respond to a Reuters request for comment.
Last month, a group led by private equity firm KKR & Co Inc KKR.N withdrew a near $15 billion all-cash buyout offer for Ramsay Health Care, leaving on the table a cash-and-stock bid that the Australian firm has rejected.
($1 = 4.4990 ringgit) (([email protected]; Twitter: https://twitter.com/sameer_manekar))
News: RHC UPDATE 1-Ramsay-Sime Darby JV sale to Malaysia's IHH Healthcare falls through
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