Sheikh brothers reach agreement for CareTech

Farouq Sheikh, CareTech executive chairman

Farouq and Haroon Sheikh have reached an agreement to take CareTech into private ownership, valuing the business at £870.3m. Under the terms of the offer, CareTech shareholders will be entitled to receive 750 pence per share, with the business valued to underlying EBITDA of 12.6x for the year ended 30 September 2021. Amalfi Bidco Ltd,…

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