Carlyle Group LP (CG:US), the world’s second-largest private equity firm, and its partners hired Credit Suisse Group AG (CSGN) and Goldman Sachs Group Inc. (GS:US) to advise on selling a stake in Turkish hospital chain Medical Park Saglik Hizmetleri AS.
The shares may be sold via a block sale or through an initial public offering, Istanbul-based Medical Park said in an emailed statement today. Proceeds will be used to finance new projects, it said.
Medical Park, which owns 16 hospitals and employs 10,000 people in Turkey, announced a plan on Aug. 16 to invest $300 million in four hospitals under the name Liv Hospital Group in Istanbul, Ankara and Izmir over three years. The first of the hospitals will be opened at the end of this year, it said.
Carlyle, which has more than $156 billion in assets under management globally, bought 40 percent of Medical Park in 2009 for $150 million. Turkish businessman Muharrem Usta, chairman of the company, and Sancak AS of Turkey each hold a 30 percent stake.
Carlyle is one of three shortlisted potential buyers for a minority stake in Turkish hosiery and swimwear maker Penti Corap Sanayi & Ticaret AS, Kerim Kotan, managing director of sell-side adviser Pragma Corporate Finance, said in an interview on Aug. 6.
“We want to complete the 30-percent stake sale in one or two weeks,” Sami Kariyo, chairman and a major stakeholder at Penti, said in a telephone interview today, declining to identify the leading contender in the process.
Carlyle bought 48 percent of Istanbul-based education group Bahcesehir Kolejleri for an undisclosed price, it said in January. The buyout firm also acquired 50 percent of TVK Gemi Yapim Sanayii AS, a Turkish shipbuilder, in 2008. Carlyle may have one or two acquisitions in the country this year, Can Deldag, co-head of the firm’s operations in Turkey, Middle East and the Gulf, said on Feb. 16.
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