Private-equity firm KKR & Co LP is in preliminary talks
to buy Brazilian health insurer Golden Cross Planos de Saúde SA,
Valor Econômico newspaper reported on Monday, without giving any
sources. Founder Milton Afonso wants about 1.1 billion reais
($528 million) for Golden Cross, Valor said.
Rio de Janeiro-based Golden Cross hired Deutsche Bank AG
as an advisor, Valor said. Golden Cross is currently
in talks with international investors over a potential deal, but
did not confirm KKR among the interested parties, Valor added.
Calls made by Reuters to KKR's offices in New York were not
Private-equity firms around the world are on the search for
insurance services companies because of their steady revenue
stream and low need for capital expenditures. Afonso, 91, wants
to sell 100 percent of the company but his heirs oppose his
plans, the paper added.