Cotiviti Announces Recapitalization With KKR And Long-Standing Owner Veritas; Cotiviti Says Under Agreement, KKR And Veritas Will Become Co-Sponsors With Equal Ownership Stakes In Cotiviti; KKR Is Making Its Investment In Cotiviti Primarily Through Its North America Fund XIII; Veritas Is Making Its New Investment In Cotiviti Through Veritas Fund VIII
Portfolio Pulse from Benzinga Newsdesk
Cotiviti has announced a recapitalization agreement with KKR and its long-standing owner Veritas. Under the agreement, KKR and Veritas will become co-sponsors, holding equal ownership stakes in Cotiviti. KKR's investment comes primarily through its North America Fund XIII, while Veritas is investing through Veritas Fund VIII.
February 14, 2024 | 3:40 pm
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KKR's investment in Cotiviti through its North America Fund XIII as part of a recapitalization agreement with Veritas, acquiring equal ownership stakes.
KKR's involvement in Cotiviti's recapitalization, particularly through a significant fund like North America Fund XIII, signals a strong commitment and belief in Cotiviti's value and future growth. This strategic move is likely to be viewed positively by investors, potentially leading to a positive short-term impact on KKR's stock price.
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