NMC says advisers appointed to explore sale of UAE, Oman business

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DUBAI- NMC Group said on Wednesday it had hired Perella Weinberg Partners and Resonance Capital to advise on the potential sale of its healthcare business in the United Arab Emirates and Oman.

The sale process will run in parallel with the ongoing restructuring discussions with NMC’s lenders, it said.

NMC, founded in the 1970s, became the largest private healthcare provider in the UAE but ran into trouble after short-seller Muddy Waters questioned its financial reporting and doubts emerged over the size of stakes owned by its biggest shareholders.

(Reporting by Saeed Azhar and Yousef Saba; Editing by Edmund Blair) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))