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’KKR reconsiders NY listing
KKR is considering scrapping its plan to list in New York. The US buyout firm had planned to merge its operations with its Euronext-listed KKR Private Equity Investors (KPE) and then list the whole operation on the New York exchange.
Fidelity joins KKR in listings deal
Mutual fund group Fidelity is teaming up with US buyout firm KKR, in an unusual deal that will give Fidelity’s huge retail client base access to future public listings of KKR-owned and underwritten companies.
Bain leads race for Gome stake
Gome Electrical Appliances, China’s second-largest electronics retailer, may sell as much as 20% of itself to Bain Capital for about $500m, reports Bloomberg. Bain is competing for Beijing-based Gome with KKR and Warburg Pincus,
KKR sees opportunities in stimulus package
KKR could take advantage of US plans to spend hundreds of billions of dollars on infrastructure stimulus but is less interested in buying banks or their troubled assets, the US private equity group’s co-founders Henry Kravis and George Roberts told the FT.
Alliance Boots buys back £400m debt
Alliance Boots, the UK retailer that was taken private in Europe’s biggest buy-out almost two years ago, has bought back more than £400m of debt at a steep discount from distressed sellers. Stefano Pessina,
After KKR and Kirin, deals hot up in Asia-Pacific
Private equity may be at least staggering – if not roaring – back to life in the Asia-Pacific region after Thursday’s news that KKR is buying AB InBev’s South Korean Oriental Brewery for $1.8bn.
The deal,
KKR to buy AB Inbev Korea unit
US buyout firm KKR is is buying Anheuser-Busch InBev’s South Korean beer unit for $1.8bn, reports Bloomberg. AB InBev, formed in a $52bn merger last year, and KKR plan to announce the deal Thursday, according to people with knowledge of the matter. The Belgian brewer is seeking to sell $7bn of assets to help repay $45bn of borrowings taken on to fund last year’s acquisition of Anheuser-Busch.
KKR leads race for Oriental Brewery
US buyout firm KKR has emerged the clear favourite to acquire Oriental Brewery, the South Korean brewer owned by Anheuser-Busch InBev. KKR has been named preferred bidder by AB InBev, after it raised its bid to about $1.9bn,
Weekend catch-up
In case you missed these stories:
- Swiss ask US to drop UBS case
Swiss President Hans-Rudolf Merz asked US Treasury Secretary Tim Geithner on Saturday to drop a legal case involving clients of UBS bank in return for a new tax accord between the two countries.
Buyout groups back Skype founders’ bid
Four private equity groups are jointly backing the founders of Skype, the internet telephony group, in a bid to buy back the business from eBay, reports DealJournal. KKR, Warburg Pincus, Providence and Elevation Partners are backing Niklas Zennstrom and Jannus Friis in a bid to repurchase the company they sold for $2.6bn in 2005.
Lotte rejoins bid for InBev unit
Lotte Group, the South Korean retail conglomerate that was a favourite to acquire Anheuser-Busch InBev’s Oriental Brewery unit, has rejoined bidding for the asset after being briefly ejected from the process.
KKR eyes Phoenix for Alliance Boots
KKR has made an approach to acquire Phoenix, the German drug wholesaler that is part of the faltering empire of Adolf Merckle, the German billionaire who committed suicide in January. The US buyout group,
That’s nice Timmy, but we’ve got a few suggestions…
Apparently, the Goldmanati are concerned.
For starters, the new Treasury Secretary, Timothy Geithner, never worked at The Firm. For a second, he’s not exactly got the confidence of the markets at the moment.
While buy-out groups struggle, SWFs retreat
Much has been written and spoken lately about the travails of the private equity industry – not least by the buy-out kingpins themselves, led by KKR co-founder Henry Kravis who, as the FT notes Wednesday,
Adapt or die, says Kravis
Henry Kravis, one of private equity’s best-known bosses, on Tuesday said his industry must adapt or become irrelevant in the wake of the financial crisis that has thrust the leveraged buy-out business into turmoil.
Buy-out groups eye Irish banks
Apax Partners has joined a handful of private equity groups running the rule over the cash-strapped Irish banking sector, as the UK-based buy-out house considers a politically sensitive investment in Bank of Ireland.
KKR eyes Chinese dairy deal
US buyout group KKR is in advanced talks to acquire a stake in a Chinese dairy producer, in a move that could herald a wave of fresh foreign investment in the tainted sector. People familiar with the situation said that,
Citi man to head KKR in India
Kohlberg Kravis Roberts has hired one of India’s most prominent bankers, Sanjay Nayar of Citigroup, to run its operation in the country, marking a long-awaited push by one of the world’s biggest private equity groups into Asia’s third-largest economy.
KKR blames regulatory issues for IPO delay
Kohlberg Kravis Roberts on Monday delayed its New York listing, planned for this year, in one of the clearest indications of how the tide has turned against the private equity industry. KKR said regulatory complications were mostly to blame for the postponement of its float until next year.
EDF looks to KKR to trump Buffett on Constellation
EDF, the French electricity and nuclear power group, is nearing a deal with private equity group KKR that it hopes could trump billionaire investor Warren Buffett in his agreed $4.7bn takeover of US-based Constellation Energy.
KKR sees $1.1bn interim investment loss
Private equity firm KKR said it posted a total investment loss of $1.1bn in the first half of the year, compared with a year-ago profit, reports Reuters. KKR, which in July set plans to become publicly traded company by buying an affiliated fund,
KKR, Permira buy up ProSiebenSat.1 debt
KKR and Permira, the private equity owners of ProSiebenSat.1 Media, have acquired chunks of debt in the struggling German television broadcaster. The debt purchases – about €100m ($139.5m) by KKR’s credit arm and Permira’s debt subsidiary – are the latest examples of private equity groups buying debt in companies in which they already control the equity.
CVC, StanChart, eye sale of Amtek
The private equity owners of Singapore’s Amtek Engineering – one of Asia’s fastest growing bespoke precision engineers – have held preliminary discussions that could result in a lucrative trade sale of the company only a year after it was taken private,
Lehman narrows field to three suitors
Lehman Brothers has told three private equity firms – KKR, Hellman & Friedman and Bain Capital – that they remain in the bidding for its asset management arm even though the investment bank has yet to make a final decision on whether to sell the unit,
KKR leads race for Lehman assets
KKR is leading the bidding for a controlling stake in Lehman Brothers’ asset management business, while Blackstone Group has backed away, reports Reuters, citing CNBC. Lehman is looking to sell at least part of its asset management business;
Apollo to face grilling over Dutch fund
Apollo Global Management, the private equity group, will on Thursday face questions from investors about the fate of its poorly performing Amsterdam-listed fund after its US parent company revealed a first-quarter loss of $96.4m.
Blackstone finds $2bn for Bayview
Blackstone Group has raised $2bn for Bayview Financial, a distressed mortgage servicer and fund manager in which it holds a stake, to buy portfolios of ailing mortgage assets in the next few months. The move by the US buyout group emerged Wednesday as it reported a drop in quarterly earnings,
KKR Dutch fund soars on listing moves
Shares in KKR’s Amsterdam-listed fund rose by a third as investors begrudgingly welcomed the US private equity group’s offer to merge and list the combined entity in New York in return for a minority stake.
KKR to go public through fund merger
Kohlberg Kravis Roberts is finally implementing plans to go public through a complicated transaction in which it will merge with its listed entity in Amsterdam and then list in New York. The deal, which will raise no new capital,