The transaction will see Foresight Group retain a 30% stake in the company and OPTrust exit, Kinetic said in a statement Tuesday. Financial terms weren’t disclosed.
The deal values Kinetic at close to A$4 billion ($2.6 billion), a person with knowledge of the matter said, asking not to be identified because the information is private. The price tag is set to rise above that level if certain targets are met, according to the person. Representatives for TPG and Kinetic declined to comment.
The deal ...