Singapore GIC holding negotiations with Brazilian clinic network Rede D’Or Sao Luiz to buy 14% stake

GIC Private Limited, Sovereign wealth fund of Singapore is negotiating with Brazil’s largest private hospital chain Rede D’Or Sao Luiz to purchase a 14% stake in Rede D’Or with an investment of BRL 3 billion (USD 980 million). Official announcement of the deal is expected in a month. Recently, Carlyle Grouphad invested RUB 1.75 billion (USD 603 million) in Rede D’Or to own 8.3% stake in Rede D’Or. Presently, Dr. Jorge Moll family, the founder of Rede D’Or is the controlling share holder with 68.2% share while BTG Pactual and Carlyle Group own the remaining 23.5% and 8.3% stakes respectively. The investments are the results of Brazilian government’s consent for allowing foreign investors to buy national hospitals and health clinics. Probably, the deals will support Rede d’Or to use the new capital for expansion, including construction of new hospitals and financing fresh acquisitions and planning the expansion of existing facilities.