According to HCA, Bain Capital and KKR will sell 29.5 million shares of the company — 15 million shares of common stock through a secondary offering and another 14.5 million shares through a repurchasing agreement with HCA. For the secondary offering, HCA priced the stock at its value from Monday: $51.51. That means KKR and Bain Capital are expected to net about $1.52 billion.
The two groups were instrumental in taking HCA public again in 2011, but they have gradually wound down their ownership stakes in the for-profit hospital chain during the past year and a half: In December 2012, February 2013 and October 2013, Bain Capital and KKR sold varying amounts of stock. Including the most recent announcement, the two firms have received about $6.3 billion.
According to Fitch Ratings, Bain Capital and KKR will only own about 6 percent of HCA once the transactions close.
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