KKR to Reap $3.3B After-Tax Gain from $17B USI Sale to Aon
KKR sits 32% above its 52-week low of $82.67.
Summary
KKR expects a $3.3 billion after-tax gain from selling insurance brokerage USI to Aon for $17 billion, a 3.4x return on its investment. This is a major monetization event for KKR, following a string of large deals including the DCC Energy acquisition and UGI take-private offer. The gain is material relative to KKR's earnings and will likely boost near-term distributable earnings. Aon, as the buyer, is also affected but the headline focuses on KKR's gain. Watch for closing details and any use of proceeds.
At the time of this announcement, KKR was trading at $109.26 on NYSE in the Finance sector, with a market capitalization of approximately $97.6B. The 52-week trading range was $82.67 to $152.10. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.