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Khazanah Nearly Finishes Investment in Turkey Hospital Chain

khazanah nasionalMalaysia’s Khazanah Nasional Berhad increased its stake in Acibadem Saglik Hizmetleri & Ticaret AS to 97.3% from 92%. Acibadem Saglik Hizmetleri & Ticaret AS is Turkey’s biggest private hospital chain that also operates outpatient clinics, medical centers, and laboratories.

Khazanah Nasional Berhad has been a big buyer on healthcare investments in the Islamic world.

It has spent billions acquiring private healthcare investments from Turkey to China. Around January 24, 2012, Khazanah Nasional bought 75% of Acibadem Saglik Yatirimlari Holding for RM 3.66 billion. Integrated Healthcare Holdings Sdn, majority-owned by Khazanah Nasional bought 60%, while the other 15% was purchased by its wholly-owned special purpose vehicle (SPV), Bagan Lalang Ventures. The shares were bought from Mehmet Ali Aydinlar and family and Abraaj Capital.

This deal changed Integrated Healthcare Holdings ownership structure since new shares were issued to Mehmet Ali Aydinlar and family and Abraaj Capital after the 75% purchase.

Ownership of Integrated Healthcare Holdings Sdn Bhd

  • Pulau Memutik Ventures (Khazanah Nasional Berhad) – 62.1%
  • MBK Healthcare Partners Limited (Mitsui & Co., Ltd. of Japan) – 26.6%
  • Mehmet Ali Aydinlar and family – 4.2%
  • Abraaj Capital – 7.1%

Some investments of Integrated Healthcare Holdings Sdn Bhd include:

  • Parkway Holdings Ltd
  • Pantai Holdings Bhd
  • International Medical University
  • Apollo Hospitals Enterprises Ltd.

SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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