03:51 AM EST, 02/24/2025 (MT Newswires) -- KKR (KKR) has agreed to acquire a $400 million controlling stake in India's Healthcare Global Enterprises from CVC, a private markets manager, the companies said Sunday.

Under the terms of the agreement, KKR's Asia Fund IV will acquire up to 54% of equity in the 2,500-bed oncology hospital chain from CVC at a price of 445 Indian rupees ($5.13) per share, the companies said.

In accordance with Indian securities regulations, KKR will then make an offer to purchase additional Healthcare Global Enterprises shares from public shareholders, giving it a stake of between 54% and 77%, the companies said.

Healthcare Global Enterprises founder BS Ajaikumar will be named non-executive chairman.

The transaction is expected to close by Q3, the companies said.