ASIA-PACIFIC

摘要

China Resources Group and Australia's Macouarie Group will use financing of about A$800m (US$598m) to back their acquisition of a stake of up to 74% in healthcare provider Genesis Care The financing, which includes term debt for the acquisition and revolving credit tranches for capital expenditure and working capital, has been provided by a group of banks and was funded on a club basis. It was initially designed to refinance outstanding debt in the event a sale did not materialise, but the banks have approved the use of the funds to back the acquisition. Financial close is expected in September, subject to a shareholder vote and approval from Australia's Foreign Investment Review Board Last week, the consortium signed the sale agreement, which includes acquiring private-equity giant KKR's 45% stake in the company. The acquisition valued Genesis Care - Australia's biggest cancer and cardiac care services provider - at an enterprise value of A$1.7bn. Reuters reported.