Slaughter and May is advising Remgro and Mediclinic - acquisition by Remgro Jersey of a 29.9% interest in Spire Healthcare Group

Slaughter and May is advising Remgro Limited (Remgro) and Mediclinic International Limited (Mediclinic) on the acquisition by Remgro Jersey Limited, a subsidiary of Remgro, of a 29.9% interest in Spire Healthcare Group Plc (Spire) from funds managed by Cinven, for approximately £432 million. Remgro is the largest shareholder in Mediclinic. Under the terms of the transaction, the holding in Spire will be warehoused by Remgro until Mediclinic completes a rights offering, fully underwritten by Remgro, to raise the necessary funds. Remgro Jersey will also enter into a relationship agreement with Spire providing, amongst other things, for the appointment of a nominee to Spire's board and the protection of Spire's confidential information.

Mediclinic, listed on the Johannesburg Stock Exchange, is a leading operator of private hospitals and clinics in Southern Africa, Switzerland and the United Arab Emirates, with 70 hospitals and specialist care facilities and more than 27,000 staff.

Remgro Limited is one of South Africa's oldest and largest investment holding companies. Remgro is listed on the Johannesburg Stock Exchange.

Spire, listed on the London Stock Exchange, is a leading independent hospital group in the United Kingdom, with 39 hospitals, 13 clinics and 1 radiotherapy cancer centre across England, Wales and Scotland.