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Singapore's GIC lifts stake in Indonesian hospital chain

Wealth fund invests another $191m in Primaya Hospital

Primaya owns and operates 15 hospitals that have a combined 1,400 beds in the Sumatra, Java, Sulawesi and Kalimantan regions of Indonesia. (Screenshot from Primaya Hospital's website) 

JAKARTA -- A subsidiary of Singapore's GIC sovereign wealth fund has bought shares of Indonesia-listed Primaya Hospital worth 2.95 trillion rupiah ($191 million), according to a bourse filing on Wednesday.

Archipelago Investment acquired 3.09 billion shares of the hospital chain for 954 rupiah apiece from three existing shareholders: PT Awal Bros Citra Batam; PT Sehat Abadi Cemerlang; and founder of Primaya Hospital Yos Effendi Susanto.

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