MANILA, Philippines, Oct 15 (Bernama-BUSINESS WIRE) — Metro Pacific Investments Corporation (“MPIC”) (PSE: MPI), global investment firm KKR, and GIC, Singapore’s sovereign wealth fund, announced today the signing of certain definitive agreements under which KKR and an affiliate of GIC (“GIC”), will invest in Metro Pacific Hospital Holdings, Inc. (“Metro Pacific Hospitals” or the “Company”) through a series of investments in common shares in Metro Pacific Hospitals and in mandatorily exchangeable bonds issued by MPIC. GIC will restructure its current investment in Metro Pacific Hospitals and will re-invest alongside KKR.
Under the terms of the agreement, the KKR-led consortium will subscribe to Php 5.2 billion (US$ 100.0 million) worth of 41,366,178 new common shares in the Company equivalent to 6.25% of the aggregate par value of the Company. Proceeds from the sale of shares in the Company are expected to be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates, and joint ventures.