• CIEL Healthcare Limited increases its stake in The Medical and Surgical Centre Limited, the company which owns Fortis Clinique Darné in Mauritius

    3 Mar 2015

    Consequent to the closing of the Mandatory Offer by CIEL Healthcare Limited (‘CHL’) to acquire the shares of The Medical and Surgical Centre Limited (‘MSCL’), CHL today announced that it has increased its stake in MSCL from 44.93% to 58.60%.

    On 17 October 2014, CHL acquired 86,234,892 additional ordinary shares in MSCL, thereby increasing its shareholding in MSCL from 29.80% to 44.93%. This transaction has triggered a Mandatory Offer under the Securities (Takeover) Rules 2010, whereby CHL has made an offer to the other shareholders of MSCL to purchase their shares for a cash consideration of MUR 1.75 per share.

    The Offer opened on 22 January 2015 and closed on 25 February 2015. On 26 February 2015, CHL acquired 77,940,095 additional ordinary shares of MSCL from those shareholders who accepted the Offer. Following this transaction, the effective shareholding of CHL in MSCL has increased from 44.93% to 58.60% representing a total of 334,004,488 ordinary shares of MSCL.

    Listed on the Development and Enterprise Market (“DEM”) of the Stock Exchange of Mauritius Ltd, MSCL owns ‘Fortis Clinique Darné’, a leading private hospital in Mauritius.

    Mr Jean-Pierre Dalais, Executive Director of CIEL Limited, commented that “Healthcare is a sector where we see strong potential development for CIEL and this transaction is an important milestone in  the implementation of this strategy”.

    For Mr Alex Alexander, Managing Director of CIEL Healthcare Africa, “this acquisition paves the way for CIEL Healthcare’s emergence as an important healthcare player not only in Mauritius but also in the region”.