07:23 AM EDT, 08/14/2024 (MT Newswires) -- KKR & Co. ( KKR ) is in early discussions with private credit lenders to finance its acquisition of public relations firm FGS Global with about $500 million of debt, Bloomberg News reported Wednesday, citing people with knowledge of the matter.

KKR is buying a roughly 50% stake in FGS Global from British ad group WPP Plc ( WPP ) for $775 million, which will raise its stake to about 80% from about 30%, according to the report.

KKR and FGS did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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