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Abano to sell Ascot Radiology stake for NZ$17M

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Abano to sell Ascot Radiology stake for NZ$17M

Abano Healthcare Group Ltd. is selling its majority stake of 71% in Ascot Radiology Ltd. to its radiologist shareholders for a total consideration of NZ$17.0 million.

With the sale, Abano Healthcare will transition from a multidiscipline healthcare provider to a single focus dental group.

The sale will provide the company with a one time gain of NZ$2.1 million.

Settlement is expected to occur Feb. 27, 2018, subject to usual conditions requiring change of control consents for material contracts and leases.

As of Dec. 19, US$1 was equivalent to NZ$1.43.