French listed private healthcare group Générale de Santé is planning to spin off €400m of its property assets.
The disposal is scheduled to happen in two tranches of €100m and €300m. But while the hospital assets’ book value is €400m in total, it is believed they could fetch up to €600m.
Générale de Santé has instructed Italian investment bank Mediobanca to carry out the disposals.
The cash raised will be used to expand the French, Italian and Spanish operations of the group,
which runs 130 hospitals in France, treating a million patients a year. Earlier this year it entered the care homes sector by acquiring Groupe Libermed.
