Primary Health Properties (PHP) is buying the owner of 54 healthcare facilities across the UK.
Primary Health Properties (PHP) is buying the owner of 54 healthcare facilities across the UK.
PHP has agreed to acquire Prime Public Partnerships, an investor in the 54 healthcare facilities, for about £41 mln (€49 mln) in shares. PHP will also assume £178 mln of borrowings secured against the PPP properties being purchased.
The acquisition is subject to PHP shareholder approval.
The portfolio being acquired has an aggregate valuation of £233 mln, representing an average lot size of £4.3 mln.
If completed, the deal will lift PHP's holdings to £880 mln, excluding PHP acquisitions and forward commitments since 30 June 2013 of £49 mln as announced on 4 November 2013.
