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NFC - New Frontier News Story

$10.29 0.0  0.0%

Last Trade - 06/12/19

Sector
Financials
Size
Small Cap
Market Cap £317.0m
Enterprise Value £316.0m
Revenue £n/a
Position in Universe 3111th / 6412

BRIEF-New Frontier Corp To Acquire United Family Healthcare

Tue 30th July, 2019 1:26pm
July 30 (Reuters) - New Frontier Corp  NFC.N :
    * NEW FRONTIER CORPORATION TO ACQUIRE UNITED FAMILY
HEALTHCARE
    * NEW FRONTIER CORP -  WITH ANTICIPATED INITIAL ENTERPRISE
VALUE
OF $1,440 MILLION NEW COMPANY WILL OPERATE UNDER NAME OF NEW
FRONTIER HEALTH CORPORATION
    * NEW FRONTIER CORP - FOLLOWING CLOSE OF TRANSACTION ANTONY
LEUNG
WILL BECOME CHAIRMAN OF COMPANY'S BOARD OF DIRECTORS
    * NEW FRONTIER CORP - NEW COMPANY WILL OPERATE UNDER NAME OF
NEW
FRONTIER HEALTH CORPORATION
    * NEW FRONTIER CORP - FOLLOWING CLOSE OF TRANSACTION QIYU
CHEN
WILL BE CO-CHAIRMAN OF COMPANY'S BOARD OF DIRECTORS
    * NEW FRONTIER CORP - FOLLOWING CLOSE OF TRANSACTION ROBERTA
LIPSON WILL BE CEO OF NFH
    * NEW FRONTIER CORP - TO FUND DEAL, OBTAINED ADDITIONAL $711
MILLION IN EQUITY COMMITMENTS (AT $10.00 PER SHARE) FROM A GROUP
OF INVESTORS
    * NEW FRONTIER CORP - UPON CLOSING OF TRANSACTION, COMPANY
IS
EXPECTED TO TRADE ON NEW YORK STOCK EXCHANGE UNDER SYMBOL "NFH"
    * NEW FRONTIER - UPON CLOSING OF DEAL, CO EXPECTED TO TRADE
ON NEW
YORK STOCK EXCHANGE UNDER SYMBOL "NFH"
    * NEW FRONTIER CORP - ALSO EXPECTS TO FUND ACQUISITION OF
UFH
USING ABOUT $478 MILLION OF CASH PROCEEDS FROM NFC'S INITIAL
PUBLIC OFFERING
    * NEW FRONTIER CORP - FOSUN PHARMA WILL REMAIN AS AN
IMPORTANT
LONG-TERM STRATEGIC PARTNER
    * NEW FRONTIER - EXISTING MANAGEMENT OF UFH & FOSUN PHARMA,
TOGETHER EXPECTED TO OWN AGGREGATE OF ABOUT 12% OF NFH AT
CLOSING

Source text for Eikon:  ID:nGNX2M9JBP 
Further company coverage:  NFC.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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