Private Equity Firms Finalize Revised Bid for UK Healthcare Real Estate Company
KKR and Stonepeak have reached agreement on a “final and best” all-cash offer for UK healthcare real estate company Assura, valuing the business at approximately £1.7 billion, according to a Wednesday statement.
The revised bid represents a price of 52.1 pence per share, incorporating the quarterly interim dividend paid in April and another scheduled for July. As part of the transaction, Assura will delist from the London Stock Exchange (LSE).
Deal Terms and Financial Advisors
Key details of the revised offer:
- Total enterprise value: £1.7 billion (~$2.1 billion)
- Per-share price: 52.1 pence (includes accrued dividends)
- Transaction structure: All-cash offer
- Post-deal plan: Assura delisting from LSE
Jefferies has been appointed as financial advisor to KKR for the transaction. The revised bid represents an increase from the firms’ previous offer and reflects continued confidence in Assura’s portfolio of healthcare-focused real estate assets.
Strategic Rationale
The acquisition underscores growing investor interest in:
- Healthcare infrastructure assets
- UK real estate with recurring income characteristics
- Platform consolidation opportunities in the healthcare property sector
The deal follows months of negotiations between the private equity firms and Assura’s board, with the revised offer now positioned as the final proposal ahead of any shareholder vote. The transaction remains subject to customary closing conditions and regulatory approvals.
Related topics: