July 06, 2021
Sunway, one of Malaysia’s largest conglomerates, has announced it has entered into a share subscription agreement totaling RM750 million (approximately US$180 million) to sell a stake in its healthcare business, Sunway Healthcare, to an affiliate of GIC. Latham represented GIC in the transaction.
Sunway is a Malaysian conglomerate focused on sustainable development, and Sunway Healthcare is a leading integrated private healthcare group with a network of hospitals and health services in Malaysia. GIC is a global long-term investor established in 1981 to manage Singapore's foreign reserves.
The deal team was led by Hong Kong partner Amy Beckingham with associates Edward Tang, Bing Xi Sia, and Andrew Yau. The team was supported by colleagues across multiple practice groups globally, including Washington D.C. partner Eric Volkman, London partner Sean Finn with associate Ed Moberly, and Hong Kong associates Kieran Donovan, Chi Ho Kwan, and Tian Lin.