UPDATE: KKR (KKR) to Invest $65M into China Cord Blood (CO); Shares Rip Higher

April 12, 2012 9:28 AM EDT
(Updated - April 12, 2012 9:31 AM EDT)

China Cord Blood Corporation (NYSE: CO) and Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) announced that they have entered into agreements under which KKR China Growth Fund L.P., a China focused investment fund managed by KKR, is expected to invest $65 million into CCBC, the largest cord blood banking operator in China, to support its further business expansion and to capitalize on China’s fast growing healthcare services industry.

UPDATE: Shares are ripping higher early, up over 15 percent, following the announcement that KKR will make a $65 million investment in the company.

With a total market cap just shy of $200 million, that represents gross cash of about 89 cents per share.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Mergers and Acquisitions

Related Entities

Kohlberg Kravis Roberts

Add Your Comment