Petronas, via its wholly owned subsidiary Petronas Hartabina Sdn. Bhd. signed a Share Sale and Purchase Agreement (SPA) for the sale of Petronas’ 100% interest in Prince Court Medical Centre (PCMC) to Khazanah Nasional Berhad, via its wholly owned subsidiary Pulau Memutik Ventures Sdn. Bhd.

“Petronas is pleased to witness PCMC’s recent transformation in becoming a self-sustaining and profitable organisation with strengthened financials and solid operational foundation. 

“Petronas believes PCMC is ready for its next phase of growth and we are confident this transaction will position PCMC to realise its aspiration of becoming the leading healthcare provider in Asia,” said Tan Seri Wan Zulkiflee Wan Ariffin, Petronas’ president and group chief executive officer.

Under the terms of the SPA, Khazanah will acquire PCMC at an agreed price comparable to market assessment, payable upon completion of the transaction.

Both parties anticipate the transaction to be completed by end of Q2 2018.

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