NMC Health gets preliminary offers, says co-chair’s stake under legal review

NMC Health said on Monday it has received two preliminary approaches from private equity firms and that the shareholdings of its co-chair and two other major investors were under a review for inaccurate disclosures.

The offers from U.S.-based KKR and GK Investment for the UAE-based healthcare group sent its shares up 11% in early deals and came weeks after it faced a short-selling attack from Muddy Waters.
NMC said no discussion have taken place on the terms of any potential offer. KKR did not immediately respond to a request for comment, while GK Investment could not be immediately reached.
Separately, NMC said co-chairman B. R. Shetty and his advisers are reviewing interests held by him and two other major shareholders – Khaleefa Al Muhairi and Saeed Al Qebaisi – for historical inaccuracy.
Shetty owns 19.22% stake as of May last year, while NMC vice-chair Muhairi and Qebaisi owned 15.82% and 7.66%, respectively, as of Jan. 28, according to Refinitiv data.
Both Muhairi and Qebaisi had sold some shares in NMC and payments firm Finablr early last month.
Meanwhile, the payments firm, which is also co-chaired by the Indian billionaire, said independent directors are reviewing alleged arrangements between Shetty and other shareholders, which could impact its shareholding structure.

https://www.marketscreener.com/news/NMC-Health-gets-preliminary-offers-says-co-chair-s-stake-under-legal-review–29968747/?countview=0