Finance
KKR-Stonepeak raise bid in battle for UK's Assura to $2.3 billion
Published by Global Banking & Finance Review®
Posted on June 11, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 11, 2025
2 min readLast updated: January 23, 2026
KKR and Stonepeak have increased their bid for Assura to $2.3 billion, surpassing a rival offer and marking a significant move in the UK healthcare real estate market.
(Reuters) -Private equity firms KKR and Stonepeak Partners raised their offer for Britain's Assura on Wednesday to almost 1.7 billion pounds ($2.3 billion), topping a rival bid with their "best and final" offer for the healthcare real estate investor.
The 52.1 pence a share offer, including dividends, trumps the 51.7 pence proposed by rival suitor Primary Health Properties last month.
It represents a more than 39% premium to Assura's closing price on February 13, the day before KKR and Stonepeak's first approach. The stock has soared 32% since then, giving Assura a market capitalization of 1.6 billion pounds as of Tuesday.
Assura manages over 600 healthcare properties with an investment value exceeding 3 billion pounds, and counts Britain's state-backed National Health Service as a customer.
It joins a growing list of UK companies being bought out by overseas private equity firms or investment companies, attracted by comparatively cheap valuations.
The latest all-cash offer "is lower risk than other alternatives" and requires no divestment, KKR Managing Director Andrew Furze said in a statement.
In April, Assura had backed KKR-Stonepeak's previous cash offer, prompting a higher bid from PHP last month. Some analysts had said PHP's offer was more attractive as it comprised cash and stock, and provided ownership of social healthcare assets via a public limited company listed in the UK.
PHP did not immediately respond to a request for comment.
($1 = 0.7415 pounds)
(Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru. Editing by Janane Venkatraman and Mark Potter)
KKR and Stonepeak Partners raised their offer for Assura to almost 1.7 billion pounds, which is approximately $2.3 billion.
The new offer of 52.1 pence per share exceeds the rival bid from Primary Health Properties, which was 51.7 pence.
Assura's stock has increased by 32% since KKR and Stonepeak's initial approach, giving it a market capitalization exceeding 3 billion pounds.
Assura manages over 600 healthcare properties and counts Britain's National Health Service as a customer.
KKR Managing Director Andrew Furze stated that the latest all-cash offer is 'lower risk than other alternatives' and requires no divestment.
Explore more articles in the Finance category
