News Contact Us

Investment firm KKR pours Php 35.3bn in Metro Pacific Hospital Holdings

Author : Pankaj Singh | Published Date : 2019-10-16 

Metro Pacific Investments Corporation (“MPIC”), Singapore’s sovereign wealth fund GIC and global investment firm KKR, revealed that they would be signing a definitive agreement under which an affiliate of GIC and KKR will invest in Metro Pacific Hospital Holdings, Inc. through a number of investments made in mandatorily exchangeable bonds and common shares.

According to reliable sources, KKR-led consortium will subscribe to 41,366,178 new common shares of worth Php 5.2 billion (around US$ 100.0 million) and would invest a sum of Php 30.1 billion in mandatorily exchangeable bonds which would be offered by MPIC. 

Accordingly, the proceeds from the share’s sale are expected to be utilized to support the Metro Pacific Hospitals’ investments in new healthcare businesses and additional hospitals. Moreover, it will also fuel the growth of the company’s remaining associates, joint ventures and subsidiaries.

Speaking on the move, Manuel V. Pangilinan, Chairman, Metro Pacific Hospitals and MPIC, said that the company is delighted to reveal its latest venture in the healthcare sector, furthering its relationship with KKR after its previous venture in digital technology company of MPIC's sister company PLDT, Voyager Innovations.

He claims that KKR's has a history of supporting transformational businesses and hopes that it would share the same vision with Metro Pacific Hospitals.

Earlier this year, KKR had made headlines when it announced that it had bought majority stakes in Indian education services provider EuroKids International Pvt. Ltd., taking over from its previous investor consortium led by Gaja Capital.

However, EuroKids would still be operated by its experienced team of administrators, educators and the management team which is led by the Co-Founder and the Group’s CEO Prajodh Rajan. Moreover, KKR is said to be working closely with EuroKids and its range of brands to identify both inorganic and organic growth proceeds and is seeking ways to improve its practices and offerings.

Source Credit: https://www.businesswire.com/news/home/20191014005713/en/MPIC-Raises-Php-35.3bn-KKR%E2%80%99s-Investment-Hospital


About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Tata Motors rolls out BS-VI complaint Altroz premium hatchback

Published Date: 2020-01-24         Author: Pankaj Singh

Indian automotive giant, Tata Motors has forayed into the premium hatchback market by introducing Altroz, a car that would challenge the Hyundai Elite i20 and Maruti Suzuki Baleno. The hatchback is said to available at an introductory price of Rs 5.29 lakh ex-showroom and comes in BS-VI complaint di... Read More

Houston-based McDermott International to soon file for bankruptcy

Published Date: 2020-01-22         Author: Pankaj Singh

Oilfield service company, McDermott International has recently confirmed plans to file for Chapter 11 bankruptcy. Sources close to the matter cite that McDermott would file a prepackaged restructuring plan at the United States Bankruptcy Court in Houston. The restructuring plan, which has the bac... Read More

U Mobile set to invest billions of ringgits in 5G network spectrum

Published Date: 2020-01-20         Author: Pankaj Singh

U Mobile Sdn Bhd, a telecommunication service provider based in Malaysia, has plans to invest a large sum of money/ringgits in 5G network development for next generation connectivity. The company has already spent RM300 million for future rollouts, which is anticipated to complete in the Q3 of 2020,... Read More

© 2020 Fractovia. All Rights Reserved