KKR Invests in Channel Control Merchants

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KKR & Co. (KKR), Panasonic to Acquire Bayer's Diabetes Care Unit in EUR 1.02B Deal

June 10, 2015 6:25 AM EDT

Bayer AG has entered into a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd., a company which is backed by funds sponsored by leading global investment firm KKR (NYSE: KKR) and the Panasonic Corporation. The total consideration for the transaction is EUR 1,022 million (JPY 138 billion). The sale will include the leading Contour portfolio of blood glucose monitoring meters and strips, as well as other products such as Breeze2, Elite and Microlet lancing devices. Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is... More