Ardian exits Italian healthcare business KOS

Ardian has sold its stake in the residential care home and hospital services business to parent company CIR and Italian infrastructure investment firm F2i for €242m.

Ardian has sold its 46.7 percent stake in Italian healthcare services and residential care home operator KOS in an exit valued at €292 million.

Paris-based Ardian, which invested in KOS in 2010, has sold its stake to existing owner and KOS’ parent company Compagnie Industriali Riunite (CIR), and F2i Health Management (FHM).

According to market sources, the divestment is from Ardian’s LBO Fund IV.

FHM is the specialist investment vehicle set up by F2i, Italy’s largest home market infrastructure investor, for international investors to invest in KOS.

Once the deal is finalised, subject to regulatory approval, F2i will hold 37.3 percent of the company, while CIR’s stake will rise from its current 51.3 percent to 62.7 percent, for a total investment of €85 million.

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