Rick Hogben: CEO, Afrox and Professor Jakes Gerwil: Chairman, Bidco.

(From Moneyweb)

Byline: Alec Hogg

MONEYWEB: Piet, one of your favourite companies, Afrox, is in focus now.

Sixteen months ago it was first announced that there was a possible deal.

The group was however today able to provide details on how its hospital subsidiary, Afrox Healthcare, would be spun off.

Give us an idea of the way that you interpreted it. PIET VILJOEN: Yes, well I think the whole problem with why the deal took so long was basically to do with Competition Commission enquiries, and objections to the structured original deal, as it was put.

But I think the way the deal has been done now really doesn't change very much.

Shareholders in Afrox are still looking at getting for the cash distribution they would have gotten some the previous deal.

The only difference of course now is that Afrox is retaining the holding in Afrox Healthcare via the new Bidco, as it's called. MONEYWEB: What about the different prices? Bidco is now going to pay Medi-Clinic R50m to go away.

There are different valuations perhaps that have been brought to bear here. PIET VILJOEN: Yes.

R50m is a lot of money.

But the total value of the transaction is in the region of R3.3bn.

So, yes, it does cost a bit more.

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