KKR To Acquire Panasonic Healthcare For $1.67 Bln - Quick Facts

(RTTNews) - Private equity giant Kohlberg Kravis Roberts & Co. L.P. (KKR) agreed to acquire Panasonic Healthcare, including its related intellectual property and assets, for an equity value of about 165 billion yen or about US$1.67 billion.

KKR said that the transaction will be followed by a third party share allocation by PHC Holdings Co, Ltd., which is wholly-owned by KKR investment funds, after which KKR will own 80% of outstanding shares of PHC Holdings and Panasonic will own 20%. Panasonic (PC) and KKR will cooperate in the management of Panasonic Healthcare.

Subject to approval by the relevant authorities and other customary closing conditions the above agreements are expected to be completed by the end of March 2014.