IASO SA, a Greek-listed hospital and health services company, on Monday announced that Oaktree Capital Management submitted a public offer to buy all of the company's shares at a price of 1.50 euro per share.

In an announcement, IASO said that Oaktree Capital Management L.P. and companies related with Oaktree Luxembourg officially informed IASO's board over their intention to submit a public offer for the purchase of the company's shares, a proposal which was accepted by IASO's board. The board will recommend that its shareholders also accept the proposal. IASO's shareholders have already signed a pre-agreement to sell around 35 pct of the company's shares to Oaktree. The public offer must be submitted by no later than April 15 and on the condition that Oaktree Capital has purchased 50 pct plus one share of IASO's equity capital by the end of the public offer.

George Stamatiou, IASO chairman, said the transaction will offer significant value to shareholders while it paved a new chapter in the group's future.