HALISTER: Fresenius to Buy Spain’s IDC Salud Holding for EUR5.76B

Fresenius to Buy Spain’s IDC Salud Holding for EUR5.76B

(Bloomberg) -- Acquires Spain’s largest private hospital on a cash and debt-free basis from CVC Capital Partners, founder and CEO of Quironsalud, Victor Madera, as well as other members of Quironsalud’s management board.
  • Fresenius to issue 6.11m shares valued at EUR400 million to Madera who has agreed to 2-yr lock-up period
  • The balance of purchase price will be debt-financed
  • Transaction subject to regulatory approval, expected to close in 4Q-1Q.
  • Deal expected to have meaningful accretion to sales and earnings
  • Fresenius will publish new mid-term targets as part of its full-year 2016 reporting
  • Purchase price corresponds to ~10.8x at mid-point of ’17 EBITDA range
Link to Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
FRE GR (Fresenius SE & Co KGaA)
0306876D LX (CVC Capital Partners SICAV-FIS SA)
771054Z SM (Grupo Hospitalario Quiron SA)

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