KKR acquires controlling stake in India’s HCG for $400m

The group will purchase up to 54% of HCG’s equity at $5.14 (INR 445) per share.

Global investment firm KKR has signed definitive agreements to acquire a controlling stake in Healthcare Global Enterprises (HCG) for $400m.

The investment firm will purchase up to 54% of HCG’s equity from CVC Asia V at $5.14 (INR 445) per share.

Under the Securities and Exchange Board of India’s takeover regulations, KKR will conduct an open offer to acquire additional shares from public shareholders.

The group is expected to hold an equity stake of between 54-77% upon the transaction’s completion.

Following the acquisition, KKR will become the largest shareholder and assume sole control of HCG’s operations.

INR1 = $0.012