KKR launches tender for Ramsay hospital sites worth $5.8 billion: report

According to people familiar with the situation, a consortium led by private equity firm KKR & Co. has begun seeking investors to buy the A$8 billion property assets of Ramsay Health Care Ltd (A$5.8 billion). dollars) in its takeover bid for the Australian hospital. operator. According to the people, the private equity group and its partners have sent the terms of a sale-leaseback agreement that includes all 72 Ramsay hospital sites. They asked not to be identified because they were discussing confidential matters. According to Bloomberg sources, KKR has approached pension funds and other institutional investors.

Following the tentative offer of A$88 per share for the company, KKR has been in talks with Ramsay, which operates a network of private hospitals in Australia and Europe, since April to reach a binding agreement. If the consortium can reach an agreement on a sale-leaseback, it will be able to reduce its financing needs for its offer on Ramsay, which has a market value of around $13 billion.

Any deal would depend on a number of factors, including whether the KKR-led consortium reaches a takeover bid recommended by Ramsay’s board, the sources said. The talks are still in their early stages and there is no guarantee that they could lead to a transaction, they added. Representatives for KKR and Ramsay Health declined to comment.

Read also : KKR to buy Envision Healthcare for $5.57 billion plus debt

New York-listed investment giant KKR & Co. announced earlier that it has closed a new credit fund focused on the Asian market, as it continues to expand in the region, where economic growth had proven exceptionally resilient since the start of the COVID-19 pandemic. .

According to KKR, the new fund has attracted funding from new and existing investors, including public and corporate pension funds, sovereign wealth funds, commercial banks, insurance companies, asset managers and investors. private investment groups, as well as family offices.

(With contributions from the agency)

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