Ramsay (ASX:RHC) receives proposal for joint venture in Asia

Ramsay Health Care (ASX:RHC) and Sime Darby Holdings Berhad (SDH) have received a non-binding proposal from IHH Healthcare Berhad to acquire their 50/50 joint venture in Asia, Ramsay Sime Darby Health Care.

The indicative proposal gives an enterprise value for Ramsay Sime Darby of US$1.35 billion on a cash and debt free basis. Ramsay and SDH have agreed to a four week due diligence period in order to negotiate a sale and purchase agreement.

The proposal is subject to completion of satisfactory due diligence, and finalisation of a sale and purchase agreement.

Ramsay said the discussions between themselves, SDH and IHH are preliminary and no agreement has been reached in relation to the indicative proposal.

Shares in Ramsay Health Care (ASX:RHC) are trading 1.3 per cent higher at $64.12.