InvestorQ : Did KKR sell out of Max Healthcare on Tuesday and who were the buyers?
Arusha Ray made post

Did KKR sell out of Max Healthcare on Tuesday and who were the buyers?

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2 months ago
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Yes the deal did go through and the overall size of the deal was around $1.2 billion in value. However, the impact was limited on the price as the entire block supply was lapped principally by two of the leading FPIs in the world. In fact, the leading sovereign fund, the Government Investment Corporation (GIC) of Singapore, as well as the US based Capital International Group picked up the entire stake. The total 26.8% stake in Max Healthcare sold by KKR on 16th August was almost entirely absorbed by GIC and Capital Group.

Two major investment bankers, Kotak and Jefferies, handled the entire sale transaction. The deal had been announced by KKR on Monday itself. The entire block deal was executed at an average price of Rs353 per share and total value of the transaction was Rs9,200 crore or about $1.2 billion. Kohlberg Kravis Roberts (KKR) and Radiant were the co-promoters of Max Healthcare since 2018. This is the second tranche sale by KKR, having sold a significant stake of over 5.1% in the month of September 2021 last year.

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