Seven heavyweights converge on $4.5 billion Mediclinic deal

Seven leading international and South African law firms are advising on the £3.7 billion ($4.49 billion) acquisition of London-listed, South African-based private hospital group Mediclinic International .

The buyer, Manta Bidco, is a newly created company owned by the investment company Remgro and a consortium of SAS Shipping Agencies Services (SAS), a 100% subsidiary of MSC Mediterranean Shipping Company SA (MSC).

Mediclinic is one of the largest hospital chains in South Africa, and it also has a presence in Switzerland and the Middle East.

This is the latest big deal in the summer deals rush.

According to announcements from the Johannesburg and London stock exchanges, on which Mediclinic is listed, Linklaters and Webber Wentzel are advising Remgro and the consortium.

Slaughter and May and Johannesburg-based Cliffe Dekker Hofmeyr are advising Mediclinic, and Freshfields Bruckhaus Deringer and African firm Bowmans Law are advising MSC.

Additionally, Ashurst said in a statement that he is advising Nomura, which is appointed by both exchanges as the lead financial advisor to the consortium.

Remgro, an investment company active in financial services, consumer products, infrastructure and healthcare, already owns 44.56% of Mediclinic.

The 17-person Slaughter and May team advising Mediclinic is led by London partner Robert Innes and includes partners James Cook, Padraig Cronin, Phil Linnard, William Turtle and Ed Fife, according to the firm.

The 13-person Bowmans team advising MSC is led by the company’s chairman and senior partner, Ezra Davids, according to a person with knowledge of the deal and co-director of the firm, Charles Douglas.

Both were supported by Claire Tucker, head of public law and regulation, Derek Lötter, co-head of competition and partner Roné la Grange, among others.

According to a spokesperson for Linklaters, the firm’s team advising Remgro and the consortium is led by partner Jonathan Sadler, supported by partner James Inglis and firm managing partner Alex Lehtinen.

Webber Wentzel, the South African law firm with which Linklaters is allied, is also advising Remgro and the consortium. A spokesperson for Webber Wentzel confirmed that their team leader on the deal is corporate mergers and acquisitions partner Leslie de Bruyn.

Ashurst’s team advising Nomura was led by partners Tim Rennie and Tom Mercer, with support from senior partner Nick Lever and partner Ria Shah, the firm said in a statement.

According to a person familiar with the deal, the Freshfields team advising MSC is led by London business leader Andrew Hutchings, co-infrastructure manager, partner Richard Thexton and solicitor Holly Baker.

The acquisition is subject to shareholder and regulatory approval.

Additional reporting by Varsha Patel.

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