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Business deals

Metro Pacific Hospitals raises $684m from KKR and GIC

Philippine conglomerate defers country's largest IPO plan at $1.6 billion

A woman comforts her daughter, who is recuperating from dengue fever, in a hospital in Manila, Philippines, August 23, 2019.    © Reuters

CEBU, Philippines -- Philippine conglomerate Metro Pacific Investments Corp. is raising $684.5 million by selling a 42.5% stake in its hospital unit to a consortium led by private equity firm KKR & Co and has deferred a proposed $1.6-billion initial public offering plan.

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