NZ's Abano Healthcare makes offer for Dental Partners Ltd
WELLINGTON, June 25 |
WELLINGTON, June 25 (Reuters) - New Zealand health services company Abano Healthcare Ltd said on Monday it had an offer to buy the 30 percent it does not already own of Australian dental concern, Dental Partners Ltd.
The offer, valued at A$14.04 million ($14 million), would be accepted by two directors of Dental Partners, who would also receive NZ$2 million in Abano shares. The acquisition would be funded by debt, with Abano's current facility increased by NZ$10 million to NZ$50 million.
The company said the deal was a logical step to increase its shareholding in a highly scalable, private payment, growth business that operates in a very large market.
Shares in Abano closed on Friday at NZ$4.14. ($1=A$0.9960)
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