Global private investment major KKR is negotiating a $500m private debt facility with lenders to support its proposed acquisition of a 50% stake in communications firm FGS from British advertising agency WPP for $775m, according to a report by Bloomberg.
The proposed deal, which was announced earlier this month, would see the New York-based investment firm up its stake in FGS from 30% to 80%.
FGS Global was formed from the merger of Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co.
KKR is also planning to opt for private credit for another recent purchase, Finland-based software company Accountor.
