Sale of KKR's stake in MPH hits a snag

The exit of KKR & Co. and Singapore sovereign wealth fund GIC in Metro Pacific Health (MPH), the largest private hospital group in the country, has been stalled because the target price was not achieved.

- By RICHMOND MERCURIO

“KKR has a price target. But the bills that came in are below their target. So it looks like they’re staying,” Metro Pacific Investments Corp. (MPIC) chairman, president and CEO Manuel V. Pangilinan said.

“For now, what we're hearing is that they’re not going to sell unless their target price is met,” he said.

KKR and GIC have previously launched a sales process for their majority stake in MPH, which has 29 hospitals in its portfolio at present.

KKR and GIC hold an 80 percent stake in MPH, while MPIC owns the remaining 20 percent.