Two competing bidders are seeking to buy a 40% stake in Abu Dhabi-based NMC Health PLC for up to $1.9 billion, Reuters reported, citing four sources familiar with the matter.
One group is reportedly backed by Chinese conglomerate Fosun International Ltd.
The target stake in the London-listed healthcare operator is jointly owned by Khalifa Bin Butti Omeir, chairman of Abu Dhabi-based private equity and venture capital firm KBBO Group, businessman Saeed Bin Butti Al Qebaisi and Infinite Investment LLC. The joint owners may not sell the entirety of their current holding in NMC, the sources added.
Meanwhile, NMC Health founder B.R. Shetty will not sell his 19% stake in the company.
The company's shares were up 22.83% to £23.28 as of 1:14 p.m. London time on Aug. 22.
