August 1, 2019 / 8:28 AM / 2 months ago

Philippines' Metro Pacific sees strong interest for hospital stake

MANILA/SINGAPORE, Aug 1 (Reuters) - Philippines’ Metro Pacific Investments Corp has received interest from a variety of potential buyers for a minority stake in its hospital unit, which could be valued at up to $2.5 billion, company executives said on Thursday.

More than a dozen foreign and Philippine firms have shown interest in submitting first-round, non-binding bids this month, David Nicol, chief financial officer of Metro Pacific, told Reuters.

The investment and infrastructure holding company plans to sell a 40% stake in Metro Pacific Hospital Holdings Inc at a valuation of $2-$2.5 billion, company chairman Manuel Pangilinan told Reuters. Metro Pacific owns 85.6% of the healthcare unit, which operates 14 hospitals. (Reporting by Neil Jerome Morales and Anshuman Daga; Editing by Muralikumar Anantharaman )

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