King & Wood Mallesons (KWM) has advised Paul Ramsay Holdings on the successful block trade of 22 million ordinary shares in Ramsay Health Care Limited valued at $1.36 billion. KWM also advised the Paul Ramsay Foundation (Foundation) on a restructuring of the Foundation.
Settled on 19 September , the shares were sold to institutional investors for $61.80 via an underwritten book build. Paul Ramsay Holdings divested 10.9 per cent of its interest in Ramsay Health Care, maintaining a holding in the country's second largest private hospital operator of 21 per cent.
The KWM team advising on the transaction was led by partner, David Friedlander with assistance from senior associates, Anthony Boogert and Jo Ruitenburg and solicitor, Henry Sit.
Commenting on the transaction David said: "We are pleased to have advised the Paul Ramsay Holdings on this significant trade, the proceeds from which will allow the Paul Ramsay Foundation to diversify and focus on alternative investment options."
The sale of the shares represents the largest block trade since 2017.