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Sana Bidco raises final offer for Assura to £1.7bn as board withdraws support for rival PHP bid

Cape Times

|

June 12, 2025

ASSURA, a leading UK healthcare real estate investment trust, on Tuesday accepted a sweetened, best and final cash offer from private equity-backed Sana Bidco, valuing the company at approximately £1.7 billion (R41bn).

- PHILIPPA LARKIN

Sana Bidco raises final offer for Assura to £1.7bn as board withdraws support for rival PHP bid

Assura is listed on the London Stock Exchange with a secondry listing on the JSE.

The deal comes after a brief bidding war with Primary Health Properties (PHP), which has now been effectively sidelined.

Sana Bidco - a consortium formed by US private equity giant Kohlberg Kravis Roberts (KKR) and infrastructure investor Stonepeak - increased its cash offer to 50.42 pence per share, up from its original bid announced on April 9. Including declared dividends of 1.68 pence, the offer values Assura shares at 52.1 pence, representing a 39.2% premium over the pre-offer closing price on February 13.

It values the entire issued and to be issued ordinary share capital of Assura at approximately £1.7bn on a fully diluted basis.

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