(Il Sole 24 Ore Radiocor) - Milano, 20 apr - McKesson said it had agreed to sell a minority stake in its medical-surgical solutions business (MMS) to investment firm Apollo Funds for 1.25 billion dollars.

This transaction represents a meaningful milestone as McKesson executes its separation strategy of MMS in preparation of a planned initial public offering, the healthcare services company said.

Under the deal, Apollo will invest 1.25 billion dollars in convertible preferred equity of MMS to acquire a stake of around 13%.

The transaction values MMS at about 13 billion dollars total enterprise valuation.

McKesson will retain operating control and majority ownership.

of MMS and consolidate the results for financial reporting.

(RADIOCOR) 20-04-26 16:44:44 (0465) 5 NNNN