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The board of SA’s most valuable hospital group, Mediclinic, has approved a revised offer from its biggest shareholder, Remgro, in a consortium with Switzerland’s MSC Mediterranean Shipping, that values its shares at £3.7bn (R74.8bn).

The buyout is one of a growing number of moves by investment holding company Remgro to reduce the discount between its share price and the underlying value of its companies. It has sold Distell to Heineken, subject to competition authority approval, and has unbundled its stake in RMI...

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