(Reuters) – Canada’s NorthWest Healthcare Properties REIT (NWH_u.TO) on Tuesday said it acquired rights to a 10 percent stake in Australia’s Healthscope Ltd (HSO.AX), less than two weeks after the hospitals’ operator received a $3.1 billion takeover bid from a consortium led by an Australian private equity firm.
The acquisition, at A$2.39 per Healthscope share, values the stake at about A$416 million ($313.04 million). The rights to the stake were obtained through a derivative offered by Deutsche Bank AG, the Canadian company said in a statement.
Healthscope was the subject of a $3.1 billion takeover approach from private equity firm BGH Capital and its consortium partners last month.
“An acquisition of Healthscope’s underlying hospital related real estate is of interest to NWH and Vital Healthcare Property Trust in line with their long term strategy to invest in healthcare real estate assets in the Australasian market,” NorthWest Healthcare Properties said.
New Zealand-listed Vital Healthcare Property Trust (VHP.NZ) is an associated entity of NorthWest Healthcare Properties, and the companies plan to pursue any potential Healthscope real estate deal jointly.
Shares of Healthscope rose as much as 4.2 percent, while the broader market was up 0.4 percent.
The stock was issued at A$2.10 in a 2014 initial public offering.
Healthscope and BGH Capital weren’t available for immediate comment.
Reporting by Chris Thomas in Bengaluru; Editing by Simon Cameron-Moore
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