Bumungrad sells controlling stake in Asian Hospital
Bumrungrad International has sold its investment in the Philippines, according to a report by Philippines Daily Inquirer.
The daily reported that Metro Pacific Investments Corp (MPIC) has inked a deal to acquire the controlling stake of Thai hospital group Bumungrad in the upscale 219-bed Asian Hospital in Filinvest Corporate City, Alabang.
Under the deal, MPIC will take over control of at least 57 percent of the hospital’s shares by buying 100 per cent of the shares of Bumrungrad International Philippines Inc and 100 per cent of shares of Neptune Stroika Holdings (40 per cent owned by Bumrungrad).
Based on a disclosure to the Philippine Stock Exchange, MPIC will pay around P1.46 billion to buy at least 57 per cent of Asian Hospital’s equity following an agreement with Bumungrad and a subsequent tender offer for all the remaining shares held by the public.
