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KKR divests stake in Finnish hospital operator to CVC

KKR & Co. LP and private equity fund Triton are selling their stake in Finnish hospital operator Mehiläinen Oy to CVC Capital Partners Ltd.

The Financial Times reported the deal is valued at €1.8 billion, citing people with direct knowledge of the matter.

The companies did not disclose the financial terms of the deal.

Triton and New York private equity company KKR acquired Mehiläinen in March 2010 as 50/50 joint investors. Mutual pension insurance companies Varma and Ilmarinen have been minority shareholders since 2015 and LähiTapiola, a mutual life insurance company, since 2016.

The deal is expected to return about four times the New York company's original investment on the acquisition, the Financial Times said, adding that KKR and Triton hold a combined 80% stake in Mehiläinen as part of their acquisition of Sweden's Ambea Group in 2010.

The stake sale also drew interest from buyout firms Carlyle Group LP and Nordic Capital, the sources told the newspaper.

Mehiläinen operates about 140 hospitals and care homes in Finland.