Drew & Napier advised CVC Capital Partners in its acquisition of a 15% interest in PT Siloam International Hospitals Tbk
01 Sep 2016
Drew & Napier advised CVC Capital Partners (CVC) in its acquisition of a 15% interest in PT Siloam International Hospitals Tbk (Siloam) for 2.2 trillion rupiah (approx. S$226 million).
Siloam is Indonesia’s largest private national healthcare group with over 5 trillion rupiah (approx. S$513 million) in annual revenues.
CVC will purchase the shares from Siloam’s major shareholder PT Lippo Karawaci Tbk (LPKR) and securities brokerage, Ciptadana, and participate in a proposed rights issue by Siloam. Most of the proceeds will be used in the expansion of Siloam’s hospitals.
LPKR, the largest listed property company in Indonesia by total assets and revenues, is part of the Lippo Group. This investment is the third partnership between the Lippo Group and CVC, a global private equity and investment advisory firm.
Directors Julian Kwek, Tan Teng Sen and Senior Associate Seraphina Ho led in the transaction.