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News Breaks | | | | September 14, 2012 | | 08:33 EDT |  | KKR, HCN, SRZ | KKR, BPOC, Coastwood to invest in Sunrise Senior Living
Kohlberg Kravis Roberts & Co. L.P. (KKR), Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC today announced the signing of a definitive agreement to acquire the management company business of Sunrise Senior Living, Inc. (SRZ) for approximately $130M. Health Care REIT (HCN) will also invest approximately $26M for a 20% interest in the business. The acquisition is expected to close immediately prior to HCN’s previously announced acquisition of Sunrise. The management company being acquired will include Sunrise’s existing management contracts covering 282 communities, including those communities to be acquired by HCN; leasehold interests in 15 communities; and 12 development parcels. In addition, as of the closing, a subsidiary of the management company will employ all employees of Sunrise and operate under the “Sunrise” name and brand. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the first half of 2013. | |
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News For KKR;SRZ;HCN From The Last 14 Days Check below for free stories on KKR;SRZ;HCN the last two weeks. |
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| May 16, 2013 | | 07:11 EDT |  | KKR | Some asset managers want investors to buy their shares, Reuters reports
 Subscribe for More Information | | | 06:08 EDT | | KKR | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 15, 2013 | | 07:11 EDT | | KKR | Some buyout firms move beyond buyouts, WSJ reports
Subscribe for More Information | | | 06:08 EDT | | KKR | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 8, 2013 | | 17:31 EDT |  | HCN | Health Care REIT 20M share Spot Secondary priced at $73.50
The deal size was increased to 20M shares from 18M shares. UBS, Deutsche Bank and Wells Fargo acted as joint book running managers for the offering. | | | 07:53 EDT | | HCN | Health Care REIT files to sell 18M shares of common stock
UBS Investment Bank, Deutsche Bank Securities, and Wells Fargo Securities will act as joint book-running managers for the offering. | | | 06:05 EDT | | KKR | China Mengniu Dairy to pay $410M for KKR, CDH milk stake, Reuters reports
China Mengniu Dairy's will pay $410M for a stake in China's largest unpasteurized milk producer is a strategic move to rebuild trust after a series of scandals, reports Reuters. Mengniu said today it would buy 26.92% of China Modern Dairy Holdings from private equity firms KKR & Co. (KKR) and CDH Investments. The deal will increase Mengniu's stake in China Modern to about 28%.Reference Link | | | 06:02 EDT | | HCN | Health Care REIT agrees for $1.35B investment with Revera
Health Care REIT announced that the company will partner with Revera to own 47 high-quality seniors housing communities with approximately 5,000 units located in major Canadian metropolitan markets. When the transaction is completed, Health Care REIT will own a 75% interest in the approximately $1.35B portfolio and Revera will own the remaining 25% interest. The portfolio, which is currently 100% owned by Revera, is primarily comprised of independent living communities, with many offering a continuum of care that includes assisted living and/or memory care. Following the closing of the transaction, Revera will continue to manage the communities under an incentive-based management contract. The transaction is expected to close in the second quarter of 2013 and has been approved by each company's board of directors. | | | May 7, 2013 | | 07:39 EDT |  | HCN | Health Care REIT sees FY13 normalized FFO $3.70-$3.80, consensus $3.77
The company affirms its 2013 guidance and assumptions as previously announced on February 25. As previously announced, the company completed its acquisition of Sunrise, the sale of the Sunrise management company, and the acceleration of all planned joint venture buy-outs. The company’s investment in Sunrise properties is currently $3.5B, and the company expects that investment to increase to $4.3B by July upon exercise of the company’s rights to acquire additional joint venture partner interests at fixed purchase prices. The $4.3B investment is expected to include 120 wholly owned properties and five joint venture properties. The company expects the $4.3B acquisition to generate a 6.5% unlevered initial yield, or 6.1% after capital expenditures. | | | 07:37 EDT | | HCN | Health Care REIT reports Q1 normalized FFO 91c, consensus 91c
Reports Q1 revenue $633.92M, consensus $541.53M. | | | | May 6, 2013 | | 15:35 EDT | | HCN | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Emerson Electric (EMR), consensus 78c; EOG Resources (EOG), consensus $1.17; DIRECTV (DTV), consensus $1.08; Health Care REIT (HCN), consensus 91c; FirstEnergy (FE), consensus 68c; Perrigo (PRGO), consensus $1.44; Charter Communications (CHTR), consensus (61c); HollyFrontier (HFC), consensus $1.73; Oaktree Capital Group (OAK), consensus $1.53; NRG Energy (NRG), consensus (28c). | |
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