Rowsley to acquire healthcare assets for up to $1.9b
It is diversifying its portfolio.
Reuters reported that Rowsley Ltd., a Singaporean real estate firm, said it planned to buy healthcare assets from its controlling shareholder for up to $1.9b (US$1.4b) to help diversify its portfolio.
Rowsley signed a non-binding term sheet to buy 100 percent of Singapore hospital operator Thomson Medical Pte Ltd and a 70.36% stake in Malaysia's TMC Life Sciences Berhad from Lim Eng Hock.
Lim indirectly owns a 45.34% stake in Rowsley. The proposed deal will be financed by issuing new shares of $0.075 apiece, the company said in a statement.
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