KUALA LUMPUR (Sept 27): Japan's Mitsui & Co Ltd has disposed of 164.6 million shares, or a 2% stake, in IHH Healthcare Bhd for RM1.02 billion.
According to Bloomberg data today, the shares were sold at RM6.20 each, and resulted in Mitsui reducing its stake in IHH from 20% to 18%.
The disposal price was 1.7% lower than IHH's closing market price today of RM6.31.
Mitsui, which holds its stake in IHH via subsidiary MBK Healthcare Partners Ltd, is the second largest shareholder in IHH after Khazanah Nasional Bhd, which controls 41% of IHH.
IHH is a leading premium healthcare provider, and is the second largest healthcare provider in the world by market capitalisation behind the US's HCA Holdings Inc.
The group owns Parkway Pantai Ltd, one of Asia's largest integrated private healthcare groups with a network of 31 hospitals throughout the region, including Singapore, Malaysia, India, China, Brunei and the United Arab Emirates.
Its "Mount Elizabeth", "Gleneagles", "Parkway" and "Pantai" brands are among the most prestigious in Asia.