July 8 (Reuters) – Private equity firm KKR & Co Inc has agreed to buy retirement and life insurance company Global Atlantic Financial Group, the companies said on Wednesday.
KKR will pay Global Atlantic shareholders an amount equal to the privately held company’s book value, which as of March 31 was about $4.4 billion.
Global Atlantic serves more than 2 million policyholders through its retirement and life insurance products.
The transaction is expected to close in early 2021. (Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)