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Business National

American Carlyle Group to buy 40 percent stake in Medical Park

One of the world’s leading private equity firms, the Carlyle Group, which made its first investment in Turkey last year, is expanding its activity in the country by acquiring a 40 percent stake in the Medical Park Hospital Group.

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The Carlyle Group will pay about $100 million for this minority stake. The two sides have signed a preliminary agreement on the sale; the final signing is set to take place in the coming days. The group made its first investment in Turkey last year by buying 50 percent stake in the Turkish TVK Shipyard, which specializes in building chemical tankers.

Operating in the Turkish medical sector since 1995, the Medical Park Hospital Group owns 11 hospitals and two hospital complexes in a number of cities. It employs more than 6,000 doctors and workers. With the new ownership structure, the joint stake of hospital partners Ethem Sancak and Muharrem Usta will decrease to 60 percent. The Carlyle Group’s plans to expand its investments into sectors such as retail, health, logistics, transportation and finance have long been known. The group previously attempted to buy shares in Türk Telekom and Kardemir.

The Carlyle Group, known for its ties to former US presidents George H.W. Bush and George W. Bush, is one of the world’s largest private equity firms, managing more than $86.1 billion in equity capital. With more than 64 funds across four investment disciplines (leveraged buyouts, growth capital, real estate and leveraged finance), Carlyle combines global vision with local insight, relying on a top-flight team of over 475 investment professionals operating out of offices in 20 countries to uncover superior opportunities in North America, Europe, Asia, Australia, the Middle East and North Africa and Latin America.

03 November 2009, Tuesday

HÜSEYIN SÜMER  ANKARA

   

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