Private equity firm KKR & Co (NYSE: KKR) has bought a significant stake in financial communications firm, FGS Global which values FGS at $1.4 billion. As a part of this deal, KKR will buy up to a 30% stake from senior employees at FGS Global and its largest investor, London-based advertising giant WPP (WPP). WPP will continue to retain a majority stake in FGS Global.
Analysts remain bullish about KKR stock with a Strong Buy consensus rating based on 11 Buys and two Holds.