Cape Town - A merger, in which the Public Investment Corporation (PIC) - acting as asset manager for the Unemployment Insurance Fund – will obtain a shareholding in the Clinix Hospital Group, has been approved by the Competition Tribunal.
The Tribunal has approved the merger without conditions, Tribunal spokesperson Chantelle Benjamin said in a statement.
The Clinix Hospital Group controls a number of private hospitals across Gauteng and the North West, built in or around lower income areas and targeting specifically lower income earners, she said.
“Whilst the UIF does not hold any shares in companies which operate in the healthcare industry, the PIC has interests in a number of healthcare service providers and individual private hospitals.”
Pre-transaction, Clinix is controlled by Friesdshelf 41, which is controlled by the KOP Share Trust, Matseke Medical Investments and Clinix, Benjamin said.
“The transaction will see the PIC acquiring a sufficient shareholding in Clinix to afford it minority shareholder protections,” she confirmed.
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