Abraaj Capital Ltd. hired Goldman Sachs Group Inc. (GS) and Bank of America Merrill Lynch to find a buyer for its Turkish hospital unit Acibadem Saglik Hizmetleri & Ticaret AS, according to two people with knowledge of the sale.
Abraaj, based in Dubai, plans either to sell its entire stake to a single buyer, or offer the shares on the market, said the people, who declined to be identified because the talks are private.
Acibadem’s market value is 2.25 billion liras ($1.4 billion), based on today’s closing share price. Abraaj has a 46 percent stake in Almond Holding, which owns 92 percent of Acibadem, according to data on the website of the Istanbul Stock Exchange. The stock rose 9.3 percent to 22.45 liras at 5:30 p.m. in Istanbul, extending earlier gains.
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