Profit from a loss

Finweek English Edition - - Marketplace Simon Says -

Life Health­care has an­nounced it has a buyer for Max Health­care in In­dia for R4.3bn (ru­pee ex­change rate de­pen­dent). Ide­ally, the group would have wanted its In­dian ad­ven­ture to work, but it has gen­er­ated a profit on the sale. The ini­tial deal was for 26% in 2011, pay­ing R850m. Then, in mid-2014, Life Health­care upped the stake to the cur­rent 46.4%, pay­ing an­other R1.35bn, bring­ing the in­vest­ment to a to­tal of R2.2bn. With far too many South African com­pa­nies re­turn­ing from their off­shore for­ays a whole lot poorer, at least this mis­ad­ven­ture was prof­itable.

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