Buyout firms KKR , Blackstone and CVC are among bidders competing for a stake in...
FILE PHOTO - Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid
The stake in the unit, the operator of 14 hospitals, many of which are among the country’s largest and most modern, has also attracted interest from other financial and strategic investors, the people said, declining to be named as the talks are private. Metro Pacific Investments, which owns an 85.6% stake in the hospital unit and has said it plans to use the funds from the sale to expand this business, declined to comment.
Metro Pacific Investments is a unit of First Pacific Co Ltd , that is owned by Indonesian tycoon Anthoni Salim.Sources said while majority control was not being offered in Metro Pacific Hospitals, some bidders were keen to take a bigger stake by setting up different shareholding structures at a later stage. The Philippines’ 40% cap on foreign ownership will apply as the unit owns real estate.
The Philippine sale process comes months after the Asian hospital business of Columbia Pacific Management, estimated to be valued at $2 billion, was launched, other sources said.
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