KKR in unique negotiations with CVC to accumulate stake in HCG
Personal fairness agency Kohlberg Kravis Roberts (KKR) is in unique talks to accumulate a controlling stake in HealthCare International Enterprises (HCG), an oncology-focused hospital chain owned by Company Enterprise Capital (CVC Capital), as reported by Cash management.
KKR has reportedly signed exclusivity agreements with CVC Capital for the proposed acquisition.
The proposed acquisition is valued at almost Rs70 billion ($832.49 million), in line with the US authorities. siliconindia.
Bengaluru-based HCG operates a community of twenty-two most cancers facilities throughout India and Africa.
The hospital chain, which went public in 2016 with an preliminary public providing that raised Rs6.5 billion, has attracted curiosity from a number of potential consumers.
CVC Capital, which acquired a controlling stake in HCG for Rs10.49 billion in 2020, presently holds a 60.36% stake valued at round Rs36.13 billion based mostly on the inventory's closing value within the earlier week.
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By GlobalData
Ought to KKR's bid achieve success, it’s going to result in a compulsory open supply for the 26% stake held by public shareholders.
HCG's founders, BS Ajaikumar and his household, retain a ten.87% stake within the chain.
KKR has a historical past of investing within the healthcare sector, together with a definitive settlement signed in Could 2024 to accumulate a minority stake in Infinx Providers, an AI-powered supplier of healthcare income cycle options.
Moreover, in July, KKR entered right into a definitive settlement to accumulate a controlling curiosity in Child Memorial Hospital, a multi-specialty hospital community in Kerala, India.
KKR and CVC Capital have shunned commenting on the continued negotiations.
