Chinese billionaire again ups stake in CHS — this time for $9.55M
Chinese billionaire Tianqiao Chen has a nearly 13.8 percent stake in Community Health Systems after buying 929,813 more shares of the Franklin, Tenn.-based for-profit hospital operator, according to a Securities and Exchange Commission filing.
Prior to purchasing the additional shares, Mr. Chen and his companies had a 12.9 percent stake in CHS. Mr. Chen and his group of companies paid $10.27 per share, bringing the total price of the transaction to $9.55 million.
A pioneer in China's online gaming industry, Mr. Chen upped his stake in CHS as the company is exploring options with financial sponsors.Private equity firm Apollo Global Management is reportedly in discussions to acquire CHS' assets. Some real estate investment trusts are also interested in the company's assets, people familiar with the matter told Reuters.
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