HCL looks set to go private

Marion Dakers
HEALTHCARE Locums will disappear from the stock market on 3 June, the consortium of investors bidding for the struggling recruitment firm confirmed yesterday.

Angel Acquisitions, led by asset manager Toscafund and US financier Ares Capital, said it has received backing from 77.33 per cent of shareholders for the plan.

The buyers will re-register Healthcare Locums as a private company once the takeover closes, in a move that they hope will allow them to cut further costs. In March, the firm asked its investors to help it avoid breaching debt covenants.