KUALA LUMPUR (Sept 9): IHH Healthcare Bhd (IHH) said its discussions with Sime Darby Holdings Bhd (SDH) and Ramsay Health Care — for IHH's proposed acquisition of 100% of Ramsay Sime Darby Health Care Sdn Bhd — had concluded without a binding agreement.
In a bourse filing on Friday (Sept 9), IHH said the preliminary discussions to acquire the entire stake in Ramsay Sime Darby had concluded, and that the discussions had not resulted in a binding agreement.
In March, IHH submitted a confidential, conditional, non-binding and indicative proposal to acquire 100% of Ramsay Sime Darby for RM5.67 billion.
Ramsay Sime Darby is an Asian joint venture equally owned by Ramsay Health Care and SDH.
In a bourse filing on March 22, IHH said Ramsay Health Care and SDH had agreed to a period of exclusivity to allow IHH to conduct due diligence, and negotiate a sale and purchase agreement.
It said the discussions among IHH, Ramsay Health Care and SDH were preliminary, and no agreement had been reached in relation to the indicative proposal.
“There is no guarantee that an agreement will be reached in respect of the indicative proposal or that a transaction will eventuate.
“IHH will update shareholders and the investing public on any material developments relating to the indicative proposal,” it said.