Global alternative investment manager KKR has agreed to sell MMI Holdings, a Singapore-based hard-drive component producer, to a China-based consortium for US$645 million including debt. The acquiring consortium is led by an affiliate of Beijing HBH Innovation Industry Fund and includes China-focused private equity fund manager Cybernaut Investment. KKR acquired a 73 percent stake in MMI for US$700 million, including approximately US$450 million in acquisition financing, in July 2007. Separately, the firm has agreed to acquire a 49.7 percent stake in India-listed hospital chain Max Healthcare Institute from Life Healthcare, a South Africa-listed hospital group. KKR will purchase 267 million shares at a price of INR80 (US$1.10) per share for a total investment of INR21 billion (approximately US$294 million).