KKR Said to Near Deal for EQT’s Karo, Defying Market Gloom (1)

KKR & Co. is close to acquiring Karo Healthcare in a deal that could value the Swedish consumer-health business at more than €2.5 billion ($2.8 billion), according to people familiar with the matter.

New York-based KKR is finalizing terms of a transaction with Karo’s owner EQT AB after beating out rival private equity firm PAI Partners in the bidding process, the people said. An announcement could come as soon as this week, said the people, who asked not to be identified because the information is private.

Deliberations are in their final stages but could still be delayed or even fall ...