Medserv - Moving to the next phase
The search for a strategic partner is moving forward with the announcement that Advanced Maritime Transports SA (AMT) is to be acquired by Medserv via a share-for-share exchange, following which AMT’s owners will purchase the stakes of the majority holders and launch a voluntary bid for the minority holdings at €1.102. The bid represents a 10% premium to the deal for the majority shares. With no financial information provided it is difficult to assess the merits of the offer to shareholders and we await further details. Medserv expects to beat its forecast for FY19 and we have lifted our estimates for this year modestly. However, the challenges for the year ahead have increased and we are lowering our FY20 estimates as a result.
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