Bain Capital Partners and Kohlberg Kravis Roberts & Co. will sell 30 million shares of its common stock in Nashville, Tenn.-based Hospital Corporation of America.
Based on HCA's trading price on Oct. 29, Bain Capital and KKR will net $1.42 billion from the sale. The offering is expected to close Friday. HCA also agreed to repurchase an additional $500 million of shares from Bain Capital and KKR.
Bain Capital and KKR are two of the major private equity investors of HCA. This is now the third major stock offering for the firms in the past year. In February, they sold 50 million shares of HCA stock for about $1.8 billion, and in December, a sale of 32 million shares netted more than $1 billion. Cumulatively, the three deals will result in approximately $4.3 billion.
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