Singapore's Rowsley to buy healthcare assets for up to $1.4 bln

Thomson Medical

18/07/2017 14:40

SINGAPORE, July 18 (Reuters) - Rowsley Ltd  ROWS.SI , a 
Singaporean real estate firm, said it planned to buy healthcare 
assets from its controlling shareholder for up to S$1.9 billion 
($1.4 billion) to help diversify its portfolio. 
    Rowsley signed a non-binding term sheet to buy 100 percent 
of Singapore hospital operator Thomson Medical Pte Ltd and a 
70.36 percent stake in Malaysia's TMC Life Sciences Berhad 
 TMCN.KL  from Lim Eng Hock.  
    Lim indirectly owns a 45.34 percent stake in Rowsley. 
    The proposed deal will be financed by issuing new shares of 
S$0.075 apiece, the company said in a statement on Tuesday. 
    Trading in Rowsley's shares, which have a market 
capitalisation of about $253 million, has been halted since 
Monday. The stock last traded at S$0.073. 
   ($1 = 1.3661 Singapore dollars) 
 
 (Reporting by Aradhana Aravindan; editing by David Clarke) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: ROWSLEY HEALTHCARE/