March 19, 2019 / 6:20 AM / 9 months ago

Australia's foreign investment regulator approves Brookfield's takeover of Healthscope

March 19 (Reuters) - Australia’s Healthscope Ltd said on Tuesday the Foreign Investment Review Board had approved Canadian investment firm Brookfield’s takeover offer for the hospital operator along with associated property transactions.

After months of negotiations and counter bids from a rival consortium, Healthscope said last month it had entered a scheme of arrangement with Brookfield for a A$4.35 billion ($3.2 billion) takeover.

Healthscope, in a filing with the stock exchange, said Brookfield had confirmed that the correspondence satisfied relevant conditions contained in the implementation deed between the parties.

Healthscope shareholders will vote on the proposed takeover offer, at the scheme meeting expected in May or June. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)

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