Pacific Radiology Group acquisition unconditional
AGREEMENT TO ACQUIRE STAKE IN PACIFIC RADIOLOGY GROUP UNCONDITIONAL
On 29 April 2021, Infratil Limited (“Infratil”) announced that it has executed a conditional agreement to acquire between 50.1% and 60% of Pacific Radiology Group Limited (“Pacific Radiology”) from existing Doctor shareholders, for total consideration of up to NZ$350 million.
The acquisition was conditional on counterparty consents to change of control in relation to a small number of material contracts, and those consents have now been received.
Infratil confirms that the Pacific Radiology acquisition is now unconditional. Completion of the acquisition is expected to occur on 31 May 2021.
Infratil now expects that its ownership stake in Pacific Radiology will be between 53.5% and 58.5%, for total consideration of approximately NZ$312 million to NZ$344 million. Infratil’s final ownership stake and total consideration will depend on usual completion adjustments and confirmation of doctor and manager shareholdings.
Investor enquiries should be directed to:
Chief Financial Officer