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Ramsay Health Care advised on 2 moves
King & Wood Mallesons has advised on Ramsay Health Care’s recent block trade and restructure of the Paul Ramsay Foundation.
Emma Musgrave
Firm: King & Wood Mallesons (Paul Ramsay Holdings)
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Deal: Paul Ramsay Holdings has been advised on the successful block trade of 22 million ordinary shares in Ramsay Health Care Limited valued at $1.36 billion. KWM also advised the Paul Ramsay Foundation (Foundation) on a restructuring of the foundation.
Area: Corporate
Key players: The KWM team advising on the transaction was led by partner, David Friedlander with assistance from senior associates, Anthony Boogert and Jo Ruitenburg and solicitor, Henry Sit.
Deal significance: According to a statement from KWM, settlement occurred on 19 September, with the shares sold to institutional investors for $61.80 via an underwritten book build.
Paul Ramsay Holdings divested 10.9 per cent of its interest in Ramsay Health Care, maintaining a holding in the country’s second largest private hospital operator of 21 per cent, the firm noted.
Commenting on the transaction, Mr Friedlander said: “We are pleased to have advised the Paul Ramsay Holdings on this significant trade, the proceeds from which will allow the Paul Ramsay Foundation to diversify and focus on alternative investment options.”
