CD&R to take Focus Financial private in over $7 bln deal (updated)

Focus Financial Partners

27/02/2023 13:17

(Adds details from statement)
       Feb 27 (Reuters) - Focus Financial Partners Inc  FOCS.O 
has agreed to be taken private by affiliates of buyout firm
Clayton, Dubilier & Rice (CD&R) in an all-cash transaction
valued at more than $7 billion, the companies said on Monday.
    The investment advisory firm had received a buyout proposal
from CD&R earlier this month that sent shares to its highest
level in nearly a year. 
    Stockholders of Focus will receive $53 per share as
disclosed by the company earlier. 
    Funds managed by Stone Point have agreed to retain a portion
of their investment in Focus and provide new equity financing as
part of the proposed transaction. 
    Stone Point and fellow private equity firm KKR & Co  KKR.N 
owned New York-based company Focus prior to its listing in 2018.
    Jefferies LLC and Goldman Sachs are financial advisers to
Focus, while Moelis & Co, Truist Securities Inc and BofA
Securities are among advisers to CD&R. 

 (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Mehnaz.Yasmin@thomsonreuters.com;))