IHH HEALTH­CARE TO DI­VEST 30% IN­TER­EST IN CHINA UNIT

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: IHH Health­care Bhd is dis­pos­ing of its 29.9% stake in PCH Hold­ing Pte Ltd to Taikang In­sur­ance Group (TIG) for 1.1 bil­lion yuan (RM694.9 mil­lion). In a fil­ing with the stock ex­change, IHH said its wholly owned Park­way Group Health­care sub­sidiary en­tered into a share pur­chase and sub­scrip­tion agree­ments with TIG’s wholly owned sub­sidiary TK Health­care In­vest­ment Ltd for the di­vest­ment. PCH is the hold­ing en­tity for IHH’s main­land China port­fo­lio of pri­mary care clin­ics and green­field hos­pi­tal projects. IHH said the part­ner­ship will lever­age on the strengths of IHH and TIG in the re­spec­tive ar­eas of health­care and in­sur­ance, plac­ing the group on a stronger growth path in China. IHH and TIG will jointly fund fu­ture projects in pro­por­tion to their share­hold­ing.

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