U.S. private equity firm TPG Capital and Malaysian state-owned investment company Johor Corp. are considering a plan to take Malaysia’s KPJ Healthcare Bhd. private, according to people with knowledge of the matter.
The San Francisco-based firm and the investment arm of the Johor state government are in talks with banks to finance the potential deal involving Malaysia’s largest private-hospital operator, said the people. Shares in KPJ jumped as much 12% in Kuala Lumpur on Friday. Deliberations are still ongoing and the firms could decide not to go ahead with the plan, said the people.
A KPJ spokesperson said in response to a query that the matter concerns their shareholder and they are not privy to it, and directed Bloomberg News to Johor Corp. A representative for Johor Corp. couldn’t immediately respond to a request for comment, while a TPG representative in Hong Kong didn’t immediately respond to calls and emails seeking comment on a holiday.
Read more/Source: BNN Bloomberg
