KKR Is Said to Near Deal for Shriram Unit Stake Ahead of IPO (1)

KKR & Co. is nearing a deal to buy a 10% stake in Shriram Capital Ltd.’s general insurance unit for about 18 billion rupees ($237 million), according to people familiar with the matter, as the Indian financial group embarks on a complex restructuring.

The Chennai-based Shriram Group is selling the stake in Shriram General Insurance Co. ahead of a potential initial public offering that could take place as soon as 2022, the people said, asking not to be identified as the information is private. The deal may be announced as early as next week, they said.

Details of the transaction ...