KKR Reaches Agreement to Buy CVC Insurance Broker April (3)

French insurance broker April Group said private equity firm KKR & Co. has become its new majority shareholder, according to a statement posted on its website.

The statement, which confirmed a Bloomberg News report, didn’t disclose deal terms. KKR is valuing the asset being sold by CVC Capital Partners at about €2.3 billion ($2.4 billion), people with knowledge of the matter said.

“Our aim is to continue the history of this great company and to make it a French champion on a global scale,” Eric Maumy, April’s president and chief executive officer, said in a statement. “This next chapter will ...