DCC to Divest Healthcare Division for $1.41 Billion
(Reuters) -British sales and marketing services provider DCC on Tuesday said it will sell its healthcare division to private equity firm Investindustrial Advisors' investment unit for a total enterprise value of 1.05 billion pounds ($1.41 billion).
In November 2024, DCC had said it would exit its healthcare division and also look at options for its technology business in order to focus on energy, its biggest and fastest-growing business unit.
The sale of DCC Healthcare, which accounted for about 13% of DCC's adjusted operating profit in the year ended March 2024, is expected to generate net cash proceeds of about 945 million pounds, the company said.
DCC said it plans to return to shareholders the surplus cash generated by the group's restructuring. ($1 = 0.7456 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Savio D'Souza)
