Cinven plans to offer 40.1M shares of the company
- Cinven, through certain of its funds as defined below, announces that it intends to sell part of its shareholding in Spire Healthcare Group plc ("Spire"). The disposal will be through a placing of shares in Spire ("Placing Shares") to institutional investors
The Offering is expected to comprise approximately 40.1 million Spire ordinary shares equivalent to approximately 10.0% of Spire's issued ordinary share capital. The offer price will be determined by means of an accelerated bookbuild offering process which is to start immediately.- If all the Placing Shares are sold, Cinven's remaining stake would comprise approximately 153.8 million shares, equivalent to approximately 38.3% of Spire's issued ordinary share capital.
Cinven has entered into a placing agreement (the "Placing Agreement") with J.P. Morgan Cazenove (J.P. Morgan Seurities plc) and Morgan Stanley (Morgan Stanley & Co. International plc) to act as joint bookrunners (the "Joint Bookrunners") in relation to the Offering