04:02 PM EDT, 09/24/2024 (MT Newswires) -- KKR (KKR) and Singapore's sovereign wealth fund GIC have hired Bank of America ( BAC ) , Jefferies Financial Group ( JEF ) and UBS Group ( UBS ) to sell their majority stake in the Philippines' Metro Pacific Health, Reuters reported Tuesday, citing three people with knowledge of the matter.

A sale process is likely to begin in Q4 this year or Q1 of 2025 and a deal could value Metro Pacific Health at $3.2 billion, the people reportedly said.

KKR and GIC hold an 80% stake in Metro Pacific Health, while Metro Pacific Investments owns the remaining 20%.

Bank of America ( BAC ) declined to comment to MT Newswires.

Jefferies, UBS, GIC, KKR, Metro Pacific Health and Metro Pacific Investments did not immediately respond to requests for comment from MT Newswires.

(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.)

Price: 132.55, Change: -0.05, Percent Change: -0.04