Global investment firm, KKR & Co. Inc. (“KKR”), has announced an agreement to acquire all outstanding shares of life and annuity reinsurer, Global Atlantic Financial Group for $4.4 billion.
The acquisition values Global Atlantic at 1.0x its book value as of the date of closing, and KKR plans to fund the deal from a combination of cash on hand, proceeds from potential minority co-investors and the issuance of new debt and/or equity. This acquisition will increase KKR’s assets under management from $207 billion to $279 billion.
This Post is for informational purposes only and does not constitute an offer, invitation or recommendation to buy, sell, subscribe for or issue any securities. While the information provided herein is believed to be accurate and reliable, TAG Financial Institutions Group, LLC and Ashland Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Certain Principals of TAG Financial Institutions Group, LLC are registered representatives of Ashland Securities, LLC Member FINRA, SIPC. TAG Financial Institutions Group, LLC and Ashland Securities, LLC are separate and unaffiliated entities. Securities and Investment Banking Services are offered through Ashland Securities, LLC.
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