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LONDON - Assura PLC, a healthcare property developer and investor, is poised to be acquired by Sana Bidco Limited, a company formed by funds advised by Kohlberg Kravis Roberts & Co. L.P. (KKR) and Stonepeak Partners LP. The acquisition, which is recommended by Assura’s board, is to be executed via a scheme of arrangement as per the Companies Act 2006.
The scheme document detailing the terms and conditions of the bid has been published and dispatched to Assura shareholders, who are scheduled to vote on the acquisition at a court meeting on June 5, 2025, followed immediately by a general meeting. Approval from at least 75% in value of the voting shareholders is required at the court meeting, in addition to a majority at the general meeting.
Assura’s directors, advised by financial firm Lazard (NYSE:LAZ), have endorsed the offer, considering it fair and reasonable. They have unanimously recommended that shareholders approve the scheme, with directors having already committed to vote in favor of the acquisition in respect of their own shareholdings.
The acquisition is subject to the satisfaction or waiver of other conditions outlined in the scheme document. Shareholders have been urged to vote, as a significant turnout is needed for the court to sanction the scheme. The document also includes an indicative timetable for the acquisition process, which is expected to be completed by the third quarter of 2025.
This strategic move comes as private equity firms continue to show interest in the healthcare sector, with Assura’s portfolio of primary care facilities being a valuable asset. The acquisition is set to expand the consortium’s footprint in the healthcare real estate market.
Assura shareholders are advised to review the scheme document and accompanying proxy forms carefully before casting their votes. The information for this article is based on a press release statement.
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