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UK Cinven plans French hospital exit

UK private equity firm Cinven is planning to sell its interest in Générale de Santé in a deal that could value the company at E800m including debt. Candover, Eurazeo, plus a handful of trade buyers are preparing bids for Cinven's stake in France's largest private hospital group.

Cinven owns an 18 per cent stake in the Générale de Santé, via its 44 per cent interest in Santé Luxembourg. The firm has retained its stake following the group's IPO in June 2001, which valued the business at E792m. It is currently capitalised at E379m according to Financial News.

Cinven is planning to sell its stake at the end of June when a lock-up agreement ends. Trade buyers including Swedish healthcare group Capio and German group Rhon-Klinikum, are to take on private equity buyers for the deal.

Cinven made another successful exit earlier in April, when it sold the Odeon cinema chain to a WestLB-led consortium for £431m.

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