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Steadfast Group Says KKR Joins Amwins-Dragoneer Acquisition Consortium

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Steadfast Group (ASX:SDF) said KKR joined the Amwins Group and Dragoneer Investment Group consortium as a co-lead investor in the company's retail brokerage business, according to a Tuesday filing with the Australian bourse.

Amwins and Dragoneer in June offered to acquire Steadfast for AU$6 per share in cash, with the non-binding agreement representing an enterprise value of about AU$7.7 billion.

KKR's participation will not impact the transaction's timetable and is not a condition to Amwins and Dragoneer entering into binding agreements with Steadfast, per the filing.

Steadfast cautioned that there is still no guarantee of a final deal materializing.

The company's shares gained 1% in recent Tuesday trade.

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