Life Healthcare shareholders could receive R8.4 billion payout from sale of UK business

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Life Healthcare,Shareholders,Payout

Life Healthcare Group plans to return around R8.4 billion to shareholders if the proposed sale of its Alliance Medical Group business in the UK is approved.

Life Healthcare shareholders could be in for an R8.4 billion payout bonanza if the group’s proposed R21 billion sale of its Alliance Medical Group (AMG) business in the UK gets the green light. This is revealed in the group’s latest results for the full-year to the end of September 2023, released on Thursday.

ADVERTISEMENT CONTINUE READING BELOW Listen: It’s looking up for hospital groups “As previously communicated to the market, Life Healthcare Group has signed an agreement to sell its AMG diagnostic imaging business to iCON Infrastructure in a deal that will earn the group around R10.8 billion in net proceeds, pending approval from shareholders and regulators,” said in a results statement. “Of this windfall, the group plans to return around R8.4 billion to shareholders as special dividends and/or share buybacks, and to reserve R2.4 billion for future growth initiatives,” the JSE-listed private hospital and healthcare group adde

 

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