KKR, Ardian in Exclusive Talks to Invest in Clinic Chain Elsan

KKR & Co. and Ardian SAS have entered into exclusive talks to invest in Elsan, the French clinic chain backed by rival private equity firm CVC Capital Partners, in what could be one of the country’s largest acquisitions this year.

Elsan confirmed the discussions in a statement Wednesday, saying it expected the two firms to join as long-term investors alongside existing shareholders by the end of the year. No financial details were disclosed.

KKR was in talks about taking a major stake in Elsan that could value the group at near $4 billion including debt, people familiar with the ...