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On Sunday, KKR & Co. Inc. (NYSE:KKR) entered into definitive agreements with CVC, a private markets manager, to become the largest shareholder in Healthcare Global Enterprises (HCG) and take full operational control for $400 million.
As part of the agreement, KKR will acquire up to 54% of HCG’s equity from CVC Asia V at INR 445 per share (around $5.13).
In accordance with SEBI’s Takeover Regulations, KKR will also initiate an open offer to public shareholders, potentially increasing its ownership to 54%-77% upon completion of the transaction.
The transaction is anticipated to close by the third quarter of 2025, pending regulatory approvals and standard closing conditions.
Read: KKR Raises Bid In Fierce Takeover Battle Of Fuji Soft, Bain Weighs Next Steps: Report
Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “As healthcare continues to be a thematic focus for KKR in India, our investment in HCG will support the development of medical infrastructure and the delivery of critical oncology services and care to more patients in the country.”
Notably, KKR is investing through its Asia Fund IV, strengthening its focus on India’s healthcare sector. Its past investments include Baby Memorial Hospital, Healthium, Infinx, Max Healthcare, JB, and Gland Pharma, spanning hospitals, medical devices, healthcare tech, and pharmaceuticals.
Last week, KKR reached a deal with ENI S.p.A. to expand its ownership in Enilive by acquiring an additional 5% stake valued at 587.5 million euros (~$614.4 million).
As of fourth quarter end, KKR’s cash and cash equivalent stood at $8.54 billion.
Investors can gain exposure to KKR via FM Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).
Price Action: KKR shares closed lower by 1.73% at $132.22 on Friday.
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