A KKR-led consortium has signed agreements with Metro Pacific Investments Corp. (MPIC) to invest $100 million in Metro Pacific Hospital Holdings via a series of 41 million common shares.
The consortium comprises KKR and an affiliate of GIC, Singapore’s sovereign wealth fund. KKR is planning to make the investment on behalf of its Asian Fund III.
A subsidiary of Metro Pacific Hospital Holdings, MPIC is an investment holding company in the Philippines. It provides water, sanitation and sewerage services, and also operates real estate and infrastructure projects.
Proceeds from the sale are expected to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital also will be used to grow the company’s existing subsidiaries, associates, and joint ventures.
The consortium also will invest in a $580 million mandatorily exchangeable bond issued by MPIC, which is exchangeable for roughly 239 millio
