No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home COUNTRY ITALY

Ardian to sell 46.7 pct stake in Kos to Cir and F2i

Bebeezby Bebeez
March 17, 2016
Reading Time: 2 mins read
in ITALY, PRIVATE EQUITY
Share on FacebookShare on Twitter

kosItalian industrial group Cir, paneuropean private equity firm Ardian and Italian infrastructure fund F2i signed an agreement for the sale of a 46.7% stake in the capital of Kos, an Italian healthcare group, for a price of 292 million euros (download here the press release).

The deal was expected by the market as next Julya shareholders agreement will expire compelling Cir and Ardian to sell 100% of the group, but Cir was willing to stay as a controlling shareholder so Ardian was expected to sell its stake before that date (see here a previous post by BeBeez).

More in detail, F2i Health Management, a company controlled by F2i’s second fund, will acquire 37.3% of the company for 240 million euros and Cir will buy the rest of Ardian’s share for 52 million euros. At the same time, Cir will acquire the remaining interests from management and other Kos shareholders for 33 million euros. Thus, CIR will increase its total stake in Kos from its current share of 51.3%t to 62.7% for a total investment of  85 million euros while F2i will hold 37.3%. It is expected that additional international financial operators may take part in the deal by entering F2i Health Management with a minority interest. In this case the overall financial commitment of F2i could be reduced to 180 millions.

Based on the agreement, on completion of the deal Cir and F2i have undertaken to sign a shareholder agreement that will mainly regulate, in terms of governance, the right of F2i to appoint three board members out of eight, including the chairman. There will also be a qualified majority vote on matters of particular importance and F2i will contribute to decisions relating to management.

Once the approval of the Italian Competition and Markets Authority has been obtained, the closing of the deal is expected to take place by the end of May.

Kos, a company founded by CIR in 2002, is one the main operators at national level in the healthcare and residential care-home sector with approximately 80 facilities, approximately 7,300 beds and over 5,000 employees in Italy. The company, which operates in the sectors of residential care homes, rehabilitation and cancer treatment units, diagnostics and the management of hospital facilities, is also active in the United Kingdom and India.

Over the years KOS has followed a path of growth through acquisitions and the launch of new facilities. In 2015 in particular, the company acquired four new nursing homes for the elderly in Lombardy, with a total of over 700 beds, and it started managing a new nursing home for the elderly in Turin and a psychiatric rehabilitation unit in the Marche region.

Ardian entered into the ownership of Kos in 2010. In 2015 KOS posted revenues of approximately 440 millions (from 392.4 milioni in 2014), with a compound annual growth rate (CAGR) of 6.2% since 2010, ebitda of 73 millions (from70 millions in 2014 and 42.1 milliions in 2010), and net income of approximately 20 millions (from 4 millions in 2010).

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

FRANCE

Altice France files for Chapter 15 bankruptcy in US

June 24, 2025
PRIVATE EQUITY

Nordic Semiconductor acquires Memfault, launches the first complete chip-to-cloud platform for lifecycle management of connected products

June 24, 2025
FRANCE

HR Path Expands U.S. Footprint with Acquisition of ClearCourse Consulting

June 24, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

Private equity and venture capital activity recorded a jump in Italy in 2015, Aifi said

CVC sees an European future for DOC Generici. In the meantime the financing structure is to be finalized

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart