January 18, 2018 / 6:08 AM / 4 months ago

BRIEF-Netcare Issues Update On Operations In United Kingdom

Jan 18 (Reuters) - Netcare Ltd:

* ‍NETCARE’S FY2017 FINANCIAL PERFORMANCE MEANT THAT BMI’S FINANCING FACILITIES NEEDED TO BE AMENDED​

* ‍NETCARE ASSISTED BMI HEALTHCARE IN NEGOTIATING AN AMENDMENT​

* ‍AS PART OF AMENDED TERMS, NETCARE PROPOSED TO INVEST AN ADDITIONAL £20 MILLION INTO BMI AND PROVIDE CREDIT SUPPORT WITH RESPECT TO CERTAIN INDEBTEDNESS OF BMI​

* ‍REMAINS COMMITTED TO BMI AND IS IN DISCUSSIONS WITH ITS LARGEST LANDLORD (THEATRE PROPCO) WITH OBJECTIVE TO AGREE A RENT REDUCTION TRANSACTION

* ‍FURTHER FINANCIAL SUPPORT FROM NETCARE FOR BMI WILL REMAIN SUBJECT TO A RESOLUTION OF RENT RENEGOTIATION TRANSACTION WITH THEATRE PROPCO​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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