If you want to do such takeovers today in South Africa you have to accept the imposition of a so-called ‘hidden tax’, says Remgro CEO Jannie Durand. Moneyweb Business
Jy kan ook hier na die potgooi op iono.fm luister. This interview was originally aired on RSG Geldsake and has been translated into English in this transcript. RYK VAN NIEKERK: I spoke to Ahmore Burger-Smidt from Werkmans last night about the apparent extremely stringent conditions that the Competition Tribunal has imposed on the transaction in which Remgro and MSC wanted to buy out Mediclinic’s minority shareholders.
No, it definitely won’t raise the cost structures for clients, but it would involve costs for Mediclinic. We budgeted for that, we made provision, so we accept it. If you want to do such takeovers today in South Africa you have to accept the imposition of a so-called ‘hidden tax’. But you need to make that part of your business, in building that intellectual capital, perhaps in a few years, in the hospital industry in the public sector. We are fully prepared to do that; it’s a learning curve.
Yes, we have in the past. What is very important here is to get the cooperation of the doctors and the specialists participating as part of the conditions because, as you know, in South Africa we don’t have our own doctors. The doctors don’t work for us, so we need their cooperation to fulfil this obligation. But we have done this before.
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