Johann Rupert's Remgro has signed an implementation agreement to take full ownership of Mediclinic Southern Africa in a 950 million deal that splits the private hospital group's assets along geographic lines between Remgro and its co-owner, Investment Holding Limited, a subsidiary of MSC Mediterranean Shipping Company.
Under the terms of the transaction, Mediclinic Holdings will sell its Swiss operations, the Hirslanden group, to IHL, while Remgro will purchase from Mediclinic Holdings all shares in Mediclinic Southern Africa. The two components will be executed simultaneously at a consideration of 950 million, equivalent to approximately R16.2 billion, on a 1:1 value exchange basis. The deal has a long-stop date of September 30, 2027. If one leg of the transaction closes and the other does not, the affected party becomes liable to pay the other its respective share in cash.
Remgro and IHL each currently hold 50 of Mediclinic Holdings. Once the restructuring completes, each partner will own its respective home market operation outright, while maintaining their joint interests in the Middle East, conducted through the EHH Group, and in the UK through Spire Healthcare.
