KKR: to acquire the remaining 37% of Global Atlantic

(CercleFinance.com) - KKR announces the signing of a definitive agreement with Global Atlantic Financial Group under which KKR will acquire the remaining 37% stake in Global Atlantic, increasing its ownership to 100%.


' The strategic partnership we envisioned three years ago has exceeded our expectations', emphasize Joe Bae and Scott Nuttall, co-CEOs of KKR.

We hope that the new ownership structure will foster an even closer collaboration, enabling us to leverage our complementary strengths and grow faster together.

Under the terms of the agreement, KKR will pay Global Atlantic's minority shareholders a cash amount equal to 1.0x the book value of Global Atlantic, with certain adjustments. The total cash purchase price is currently estimated at approximately $2.7 billion.

Following closing, Global Atlantic will continue to be led by its management team and operate under the Global Atlantic brand.

Copyright (c) 2023 CercleFinance.com. All rights reserved.