Advertisement
KKR To Acquire Remaining 37% Of Global Atlantic In $2.7 Bln Cash Deal
(RTTNews) - KKR & Co. Inc. (KKR) and Global Atlantic Financial Group LLC announced Wednesday a definitive agreement under which KKR will acquire the remaining 37% stake of insurance company Global Atlantic, increasing KKR's ownership to 100%.
After closing, Global Atlantic will continue to be led by its management team and operate under the Global Atlantic brand.
Under the terms of the agreement, KKR will pay Global Atlantic's minority shareholders an amount in cash equal to 1.0x Global Atlantic's book value with certain adjustments.
The total cash purchase price is currently estimated to be approximately $2.7 billion. Global Atlantic management is expected to exchange a majority of its Global Atlantic equity interests for KKR equity.
KKR will fund the transaction from its balance sheet, which had $23 billion of cash and investments as of September 30, 2023.
The transaction, which is expected to close in the first quarter of 2024, is subject to customary closing conditions.
Healthcare Realty Inks Strategic JV Relationship Deal With KKR
KKR, Hologic Create New Platform Named Maverix Medical Managed By Ajax Health
KKR To Invest $750 Mln In London-based Zenobe
TIM Group Announces Non-binding Offer From KKR For Stake In Company
Apax Partners To Sell Majority Interest In Boasso Global To KKR For Undisclosed Terms
KKR Boosts Investment In NetSPI With $410 Mln In New Funding
Dollar Extends Gains As Trade Tensions Ease
