Three weeks ago, Remgro and the Mediterranean Shipping Company – acting together as a 50-50 consortium – presented a cash offer to buy Mediclinic at 463 pence a share, which works out to roughly £3.4-billion .
Mediclinic’s earnings are forecast to grow 14% year on year, and it posted group revenue of £3.2-billion for the year to March 2022. “Mediclinic is a much larger asset and the fact that they want to delist Mediclinic, together with a consortium, clearly indicates that they have a desire to clean up their portfolio and take many of their interests in-house, leading to a better valuation for Remgro,” he says.
“Might Remgro then, in due course, restructure RCL Foods and take RCL private, and meld their edible oils business into a greater RCL unlisted asset? It’s very intriguing.
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