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KKR (NYSE:KKR) Wednesday said that it would acquire WPP’s (NYSE:WPP) full equity position in FGS Global, valuing the advisory and communications consultancy at $1.7 billion.
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As a result of the transaction, the equity interest of FGS’s over 500 employee shareholders will be approximately 26% of the company.
- KKR (KKR) made its initial minority investment in FGS in July 2023, and is making the investment primarily through its European Fund VI, an $8 billion fund.
- Recent investments from the European Fund VI include OHB, nexeye, Superstruct and Accountor.
- The transaction is expected to close by the end of the year, and FGS will become standalone communications and public affairs consultancy.
- Source: Press Release
