Shares in Spire Healthcare (SPI) shot up 10 per cent after it announced a major shareholder in South African private hospital group Mediclinic will buy a 29.9 per cent stake in the business from private equity group Cinven for £432m. At 360p a share, that represents a 12.5 per cent premium to Spire’s closing share price on Friday 19 June (the last working day before the news of the deal emerged).
IC TIP:
Hold
at
352p
Spire owns close to 40 per cent of the UK’s private hospital market, while Mediclinic owns hospitals in its home market, Switzerland and the United Arab Emirates.
