WASHINGTON (dpa-AFX) - KKR said it will acquire a controlling stake in Indian healthcare provider Healthcare Global Enterprises for $400 million.
KKR announced the signing of definitive agreements with CVC, a global private markets manager, under which funds managed by KKR will become the largest shareholder in Healthcare Global Enterprises or HCG and assume sole control of HCG's operations.
BS Ajaikumar, Founder of Healthcare Global Enterprises, will take on the role of Non-Executive Chairman and be focused on driving clinical, academic and research and development excellence.
As part of the transaction, KKR will acquire up to 54% of equity in HCG from CVC Asia V at a purchase price of INR 445 per share. Pursuant to the Securities and Exchange Board of India's Takeover Regulations, an open offer will be conducted by KKR to purchase additional equity shares in HCG from public shareholders. Upon completion of the transaction, KKR is expected to hold an equity stake of between 54%-77%.
The transaction is expected to close by the third quarter of 2025.
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