Australia's Ramsay Health Care and Credit Agricole Assurances have reached an agreement to acquire 83,43% of Generale de Santé, one of France's leading private healthcare groups. The Italian Dea Capital is a shareholder of Santé SA (of which it holds 43%) and Santé Developpement Europe SAS, controlling shareholders of Generale de Santé. The acquisition will be made at 16 euros per share (16,75 euros taking into account the dividend).
The price is in line with what was announced on May 12 last day of the communication of the exclusive negotiations. Including the dividends of 35 million euro, which Santé and Santé Development will collect before selling the shares, the two companies will bring in a total of 788 million which will be used in part to repay financial debts, equal to 385 million at the end of March.
At the end of the acquisition operation, a public purchase offer will be launched on the minority shares. The timing for the completion of the transaction, according to a note, is expected within the third quarter of 2014. Santé Sa and its shareholders have been assisted by Mediobanca and Rothschild.
