IHH drops acquisition of Ramsay Sime Darby Healthcare

A $1.35b buyout offer was earlier proposed by IHH.

IHH Healthcare has terminated its non-binding indicative proposal for the acquisition of 100% of the Ramsay Sime Darby Healthcare shares.

In a bourse filing, the healthcare group said discussions between Ramsay Health Care Limited and Sime Darby Holdings Berhad (SDH) on the acquisition have concluded and "have not resulted in a binding agreement."

Ramsay Sime Darby Healthcare is a joint venture of Ramsay and SDH.

In March, Reuters reported that IHH Healthcare offered a $1.35v buyout to Ramsay and SDH.

"The proposal gives Ramsay Sime Darby an indicative enterprise value of 5.67 billion ringgit ($1.35 billion) on a cash-free, debt-free basis," Reuters reported.