Saughter and May is advising Mediclinic on the disposals of its South African business unit (“Mediclinic SA”) and Hirslanden, its Swiss business unit, to its ultimate shareholders, being entities owned by Remgro Limited and Mediterranean Shipping Company SA (“MSC”).
Following completion of the disposals, Remgro will own 100% of Mediclinic SA and MSC will own 100% of Hirslanden. The retained Mediclinic group will remain jointly owned by Remgro and MSC and will comprise Mediclinic’s Middle Eastern business unit as well as Mediclinic’s interest in Spire Healthcare Group plc.
Each of the disposals will be executed at the same consideration of USD$950mn, subject to a price adjustment mechanism to account for leakage and accruals in each of Mediclinic SA and Hirslanden prior to completion.
Saughter and May worked closely with Cliffe Dekker Hofmeyr in South Africa.
Saughter and May previously advised Mediclinic on its recommended cash acquisition by Remgro and MSC in 2022 and Mediclinic and Remgro on the combination Mediclinic and Al Noor in 2015.