Ramsay bidder KKR mulls dual funding options

Zina Fragkiadaki
May 27, 2022
M&A

Private equity firm KKR is considering dual options to fund its offer for the global, Australia-based hospital operator Ramsay Health Care, The Australian Financial Review reported.

The report stated that the KKR-led consortium is looking at selling Ramsay’s real estate, and perhaps other assets, such as its pharmacy business or its business in France, or using a “highly” attractive package of debt and assets are retained.

According to AFR, Jefferies, Bank of America, Barclays, and Credit Suisse are working on the debt funding option. KKR is looking to line up additional lenders.

The consortium reaffirmed its A$20.1 billion ($14 billion) takeover offer two weeks ago, according to Bloomberg.

KKR, which has been in talks with Ramsay since April, is likely to complete its due diligence on Ramsay Health Care in mid-June, online sources suggest.

Ramsay’s shares are trading at A$78.41 at the time of writing.

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