Assura: KKR's £1.7bn Takeover Bid Finally Approved by EU
Deal News | Jun 19, 2025 | EIN
The acquisition of Assura by KKR has successfully secured the final nod from the European Commission amidst a competitive bidding war. With the bid reaching £1.7bn, the process saw the takeover battle intensifying, driven by stiff competition against Primary Health Properties (PHP). The transaction, managed via the acquisition entity Sana Bidco, marks Assura's eventual delisting from the London Stock Exchange. Despite KKR's win, several major shareholders continue to back PHP's bid, citing greater strategic value. PHP remains intent on appealing to shareholders by proposing substantial benefits and a revised proposal, reflecting the healthcare property sector's evolving dynamics during this economic cycle.
Sectors
- Private Equity
- Healthcare Real Estate
Geography
- United Kingdom – Assura is a UK-based firm owning properties across the country.
- European Union – The acquisition required and received EU regulatory approval, indicating its importance in the transaction.
Industry
- Private Equity – The article discusses a transaction led by the private equity firm KKR, detailing their strategic acquisition of Assura.
- Healthcare Real Estate – Assura, the target company, is a healthcare property firm owning GP surgeries, which plays a central role in this industry.
Financials
- £1.7bn – The final offer made by KKR for the acquisition of Assura.
- £1.56bn – The initial offer made in the bidding war for Assura.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Assura | Target | Company | A healthcare property giant listed on the London Stock Exchange involved in the acquisition by KKR. |
| KKR | Bidding Company | Company | A global private equity firm that successfully bid for Assura. |
| Sana Bidco | Acquisition Vehicle | Company | The acquisition vehicle used by KKR and Stonepeak to facilitate the takeover. |
| Primary Health Properties (PHP) | Competing Bidder | Company | Competed with KKR for the acquisition of Assura. |
| Schroders | Shareholder | Company | One of Assura’s major shareholders opposing the KKR bid. |
| Quilter Cheviot | Shareholder | Company | One of Assura's major shareholders preferring PHP's offer. |
| Allianz | Shareholder | Company | A shareholder of Assura backing PHP's proposal. |
| Gravis | Shareholder | Company | Another Assura shareholder supporting PHP. |
| Baillie Gifford | Shareholder | Company | An investment management firm that backed PHP’s interest in the Assura deal. |