Khazanah paid $252m for a controlling 90 per cent interest in the firm including Abraaj’s 50 per cent shareholding.
The company was a 50:50 joint venture between private equity firm Abraaj Group and CEO of Turkish healthcare company Acibadem Mehmet Ali Aydinlar.
Ali Aydinlar has agreed to sell a 40 per cent interest in the business to retain a 10 per cent stake.
Last week it was reported that the company received interest from Khazanah, Sompo Japan Insurance and British medical services company Bupa.
This is not Abraaj’s first exit to the Malaysian investment firm, which acquired a stake in Turkish hospital chain Acibadem Saglik from Abraaj in 2012.
Private equity firms including TPG Capital, KKR, Blackstone and Advent International were all thought to be interested in the stake, which was eventually bought by Khazanah.
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