Trump golf pal sparks NMC bid talk 

Trump golf pal sparks NMC bid talk

Donald Trump’s business partner in Dubai has built a significant stake in NMC Health, sparking speculation that he could be eyeing a bid for the embattled hospitals operator.

Hussain Sajwani, a billionaire property tycoon who recently snapped up Italian fashion house Roberto Cavalli, has bought 6.8 per cent of the FTSE 100 company. His stake is worth £133million.

Sajwani is building golf courses in Dubai with the US President and, it has emerged in stockmarket disclosures, has quietly become one of scandal-hit NMC’s largest shareholders. 

Donald and Ivanka Trump with Hussein Sajwani in Dubai, UAE 

NMC’s shares were suspended from trading on February 27 after it uncovered undisclosed financing deals involving founder BR Shetty, the Indian-born tycoon, and two of NMC’s Middle Eastern billionaire backers. 

It is now under investigation by the Financial Conduct Authority. 

That followed damning allegations in December from American short-seller Muddy Waters that NMC had ‘manipulated its balance sheet to understate debt’.

Sajwani is a well-known property magnate in the Middle East. His DAMAC empire built the Trump International Golf Club in Dubai.

The latest revelation emerges before a deadline tomorrow for one of the company’s suitors to make a bid.

Sajwani could not be reached for comment. NMC declined to comment.

 

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