ZF English

Medlife sale could bring shareholders 20m euros

27.08.2009, 00:00 9

Marcu family, which owns 80% in MedLife medical services operator, is in talks with around five investors, particularly investment funds, interested in buying a minority stake, with the deal being put at 20m euros, industry sources told ZF. Shareholders would thus be at their second exit from the company after having sold 20% to International Finance Corporation (IFC), the investment arm of the World Bank in 2006. Marcu family wants to retain control over the firm that is now assessed at 60m euros. Should IFC decide to sell, too, the percentage would be proportional with its interest, and the total stake an investor should take over would be of as much as 35%, according to above-quoted industry sources. Investors are due to submit their final binding offers on 15 September. Marcu family in spring hired Raiffeisen Investment bank to assist them with the sale. Contacted by ZF, MedLife representatives said they were in talks for a sale, but did not confirm mentioned figures and terms. In the first six months of this year, MedLife posted operating income worth 11m RON (2.6m euros) and 53m-RON (12.5m-euro) turnover). Marcu family also owns NauticLife boat business and also operates real estate investments.

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