PETALING JAYA: In line with its revised mandate, Khazanah Nasional Bhd has proposed to divest its 100% stake in Prince Court Medical Centre Sdn Bhd (PCMC) to its healthcare platform, IHH Healthcare Bhd, for a cash consideration of RM1.02bil.
In a statement yesterday, the sovereign wealth fund said its wholly owned indirect subsidiary – Pulau Memutik Venture Sdn Bhd (PMV) – had signed a share purchase agreement with Pantai Holdings Sdn Bhd, which in turn is a wholly-owned subsidiary of IHH, for the related-party transaction (RPT) involving 100 million ordinary shares and 35,176 redeemable preference shares in PCMC.