Milbank LLP advised the controlling shareholders in the sale of the Southeast Asia operations of Columbia Asia Hospitals, consisting of 17 hospitals located in Malaysia, Indonesia and Vietnam. The hospitals were acquired by Malaysia-based business conglomerate Hong Leong Group and global private investment firm TPG. The acquisition price is in excess of US$1.1 billion and one of the largest deals to be completed in Southeast Asia involving a private equity sponsor. Columbia Asia Hospitals is one of the leading private healthcare companies in Southeast Asia and has been active in the market for over 20 years.
The Singapore-based Milbank team was led by partners David Zemans and Naomi Ishikawa, special counsel James McFarlane and associates Martin Wong and Rosaline Yusman.
Mr. Zemans said: “We were honored to have advised on this important transaction and are proud to have contributed to its success. Milbank has one of the leading M&A practices in Asia and the scope and complexity of this deal highlights the capabilities and depth of our practice.”
