Carlyle to sell stake in Turkish hospital group
Dubai, December 8, 2012
US private equity firm Carlyle Group is likely to complete the sale of its shares in Turkish hospital group Medical Park in the first half of 2013, said the hospital group's chairman.
Medical Park's other main shareholder, the Sancak family, may also consider selling a stake, Muharrem Usta also told Reuters on Friday, adding he would not sell his own shares.
An initial public offering is not on the agenda, he said.
Sources told Reuters that private equity firms Texas Pacific Group and CVC were among those interested in buying a stake in Medical Park.
The hospital chain mandated Credit Suisse and Goldman Sachs to look at a possible sale or IPO, Carlyle and the Turkish shareholders said in September.
Carlyle acquired a 40 per cent stake in 2009 for an undisclosed amount alongside founders Usta and Haydar Sancak, who each own 30 per cent.
Healthcare and private hospitals are popular among private equity houses. Earlier this year, Khazanah Nasional Berhad, Malaysia's state investment company, bought a 75 per cent stake in Turkish group Acibadem Hospital and affiliated companies from Dubai-based Abraaj and Turkey's Aydinlar family.-Reuters