ANKARA (Turkey), December 24 (SeeNews) – U.S. asset manager Carlyle Group has signed a definitive deal to sell its 40% stake in Turkish healthcare services provider Medical Park to funds advised by Turkish venture capital firm Turkven, Carlyle said on Tuesday.
The other shareholders of Medical Park, Turkish firms Sancak Group and Usta Group, have also agreed to sell part of their stakes, amounting to a majority sale, Carlyle said in a statement.
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The transaction is subject to regulatory approvals and other customary closing conditions.
Medical Park has doubled its revenue since Carlyle’s investment in the company in 2009 and has increased the number of hospitals it operates to 18 from 13, the U.S. company said.
Goldman Sachs and credit Suisse advised Carlyle, Sancak and Usta Group on the equity sale.