Amanat Holdings, the UAE based healthcare and education investment company, said it has sold its 13.13 percent minority equity interest in International Medical Center KSA for 443 million Saudi riyals ($118 million; 433 million UAE dirhams).
Amanat held this stake through its 100 percent holding via subsidiaries in Saudi Healthcare and Education Fund, a private investment fund in the kingdom, the company said in a statement on Dubai Financial Market where its shares trade.
The stake sale to a private investor resulted in a total cash return of approximately 100 million dirhams, including dividends, and is expected to yield a gain from sale of about 40 million dirhams, the company said.
The fund first acquired its equity interest in IMC, a 300-bed multi-disciplinary tertiary care hospital that serves Saudi Arabia’s Western Region and targets the high-end segment of the market, in January 2017, and exited IMC in June 2021.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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