KKR to acquire 12.1% stake in Canopius
KKR•KKR-managed funds will acquire a 12.1% stake in Canopius as part of a consortium buying the insurer’s remaining 60%. Samsung Fire & Marine Insurance will acquire an additional 40.6%, bringing its ownership to 80.6%, while Korea Investment Corporation will hold 7.3%.
1. Consortium transaction
KKR-managed funds will acquire a 12.1% stake in Canopius as part of a consortium buying the insurer’s remaining 60% stake. Samsung Fire & Marine Insurance will acquire an additional 40.6%, increasing its ownership to 80.6%, and Korea Investment Corporation will hold 7.3% following the transaction.
2. Approvals required
The sellers include Fidentia Fortuna Holdings, the controlling consortium led by Centerbridge Partners. The transaction is subject to regulatory approvals and customary closing conditions.
