News: HSO Healthscope Announces Outcome Of Strategic Review Of Hospital Property Assets

Aug 21 (Reuters) - Healthscope Ltd (HSO) :

• ANNOUNCES OUTCOME OF STRATEGIC REVIEW OF HOSPITAL PROPERTY ASSETS
• HOSPITAL PROPERTIES EXPECTED TO BE TRANSFERRED INTO PROPERTY TRUST HAVE A BOOK VALUE FOR LAND AND BUILDINGS OF ABOUT $1.0 BILLION
• ANTICIPATED THAT PROPERTY TRUST WILL RECEIVE RENTAL PAYMENTS FROM HEALTHSCOPE OF APPROXIMATELY $80 TO $90 MILLION IN FIRST YEAR
• HEALTHSCOPE WILL NOW COMMENCE A COMPETITIVE PROCESS TO SELECT A PREFERRED CO-INVESTOR FOR PROPERTY TRUST
• COMPETITIVE PROCESS TO SELECT A PREFERRED CO-INVESTOR EXPECTED TO BE COMPLETED DURING FY19
• CO WILL OWN MAJORITY INTEREST IN HOSPITAL PROPERTY TRUST; NEW CO-INVESTOR WILL HOLD INTEREST OF UP TO 49% IN TRUST