KKR & Co. Inc. (KKR): M&A transaction — KKR completes $2.6B acquisition of remaining 37% of Global Atlantic

KKR & Co. Inc.

Total cash purchase price of approximately $2.6B for the 36.7% (reported as ~37%) not already owned.
Global Atlantic becomes a wholly-owned subsidiary of KKR; management team continues to lead under Global Atlantic brand.
KKR previously acquired a majority stake in Global Atlantic in 2021; Global Atlantic had served as KKR's asset manager.
Outstanding debt securities of Global Atlantic remain obligations of Global Atlantic entities only, not assumed by KKR.
Certain Global Atlantic employees rolled over majority of equity interests into KKR equity in connection with closing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

KKR & Co. Inc. completed an acquisition involving The Global Atlantic Financial Group LLC for approximately $2.6 billion (closed 2024-01-02).

Action: acquisition
Counterparty: The Global Atlantic Financial Group LLC
Consideration: approximately $2.6 billion
Closing: 2024-01-02

Exact text from the filing

in Global Atlantic becoming a wholly-owned subsidiary of KKR. The total cash purchase price for the 36.7% of Global Atlantic that KKR did not already own will be approximately $2.6 billion, which is subject to certain post-Closing purchase price adjustments as provided in the Merger Agreement. Additionally, in connection with the Closing, certain Global Atlantic

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Source: SEC EDGAR

accession 0001140361-24-000173

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