Reported today on City AM For the full article visit:
Embattled hospital operator NMC Health has received a multiple approaches regarding a potential takeover from investment firms including KKR.The group, which runs hospitals in the Middle East, said that the offers were "highly preliminary" and that there could be "no certainty that any offer will be made" for the firm.Read more: NMC Health hires former FBI director to probe short attack allegationsNMC, which has seen its share value fall 60 per cent since short-seller Muddy Waters launched an attack on the value of the firm's assets last year, was one of the FTSE's worst performing stocks last year.The group has appointed former FBI director Louis Freeh to look into allegations of financial wrongdoing by the company made by US short-seller Muddy Waters. The firms must now declare a "firm intention" to make an offer for NMC by close of business on 9 March.This morning it was also announced that the firm's founder, Bavaguthu Shetty, has opened a review into the firm's reporting of his shares in the business.Sign up to City A.M.'s Midday Update newsletter, delivered to your inbox every lunchtimeThe review suggests that NMC has failed to report his 15 per cent stake in the company accurately.Last week it was reported that Shetty, who stepped down as the firm's chief executive in 2017, was planning to buy out his partners and return to an "active leadership position" at the company.Shetty, who also owns financial services platform Finablr, which has also seen its value fall in recent weeks due to problems at Travelex, is looking to bring in new investors to buy out shares owned by Emirati investors Saeed al-Qebaisi and his relative Khalifa al-Muhairi, who control 24 per cent of the firm.Read more: NMC Health stocks fall after $490m sell off flagged by major shareholdersThe t
0 Comments