Singapore sovereign fund to acquire part of Rede D’Or São Luiz

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  • Posted on May 28, 2015


    The Singapore Investment Corporation, sovereign fund for the Asian country, has finalized a deal to acquire the equivalent to 16% of Rede D’Or for the amount of R$ 3,3 billion. The sale, made by BTG Pactual, also involved the Moll family, founders and majority shareholders of the hospital group.

    The acquiring of part of Rede D’Or by the GIC takes place one month after the private equity fund Carlyle agreed to pay R$ 1,75 billion to become a partner in the hospital group, in the first major transaction for the segment in Brazil since the federal government allowed early in 2015 the entry of foreign capital for the hospital sector. Once concluded the transaction, the Moll family will remain as majority shareholders, with approximately 62% of Rede D’Or’s shares. GIC will come next at 16%, BTG Pactual will have 15% and Carlyle will have the remaining 8%.

    The shareholders’ plan is to invest R$ 1,5 billion in expansion this year.

    Rede D’Or, which operates 27 hospitals in four states in Brazil, last year had R$ 5,5 billion in revenue.

    Source: Reuters