Aug. 11, 2014, 2:00 AM
- Australia's Treasury Wine Estates (OTCPK:TSRYF) says it has received a new takeover approach from TPG Capital which matches the $3.1B bid from KKR and Rhone Capital.
- The rival bid sparks the prospect of a bidding war over the winemaker.
- TPG has already started due diligence on Treasury after reaching a decision to make an approach over the weekend.
Aug. 8, 2014, 8:52 AM
- A Kuwaiti company operating fast food franchises like TGI Friday's, KFC, and Pizza Hut in the Middle East and North Africa, Americana - also known as Kuwait Food Co. - has a market value of over $4B, so its buyout would rank as one of the largest-ever in the Middle East.
- According to the WSJ, KKR and CVC Capital Partners - who have teamed up in the past - are preparing a joint bid.
- KKR's interest in Americana was first floated last month.
Aug. 7, 2014, 12:35 PM
- Blackstone (NYSE:BX), KKR, and TPG Capital have reportedly agreed to pay $325M to make go away a lawsuit accusing them of conspiring not to outbid each other on buyouts. None will admit wrongdoing as part of the settlement.
- The case was brought by investors who sold shares in 27 companies to a number of P-E firms. Goldman, Bain Capital, and Silver Lake all previously settled.
Aug. 4, 2014, 2:14 AM
- KKR (NYSE:KKR) has raised its bid for Australia's Treasury Wine Estates (OTCPK:TSRYF) to $3.15B, lifting its bid price 10.6% to A$5.20 per share.
- Treasury Wine Estates rejected an earlier $2.85B bid in May stating the offer was too low.
- The Australian wine industry has been struggling through volatile market conditions and a high currency in recent years, which has greatly affected Treasury's operations.
Jul. 29, 2014, 3:12 AM
- KKR's (NYSE:KKR) next step to take full control of Germany-based WMF, a provider of cutlery and coffee machines, will be backed by a €600M leveraged financing loan. KKR already owns a 72% stake in WMF.
- Commerzbank and Deutsche Bank are leading the debt financing to fund the deal which is due to be launched for syndication to investors after the summer.
Jul. 24, 2014, 8:32 AM
- Carrying value of P-E portfolio gained 5% in Q2 and 23.7% from a year ago.
- Cash distribution of $0.67 per unit includes $0.41 of realized cash carry, now making more than 4 straight years realized cash carry has added to the distribution.
- Private markets segment AUM of $59.4B down 1.8% Q/Q. Segment revenue of $642.9M vs. $197.8M a year ago. ENI of $376.2M vs. $78.5M.
- Public market segment AUM of $38.5B down 7.9% Q/Q, mostly due to the KFN acquisition. Segment revenue of $157.2M vs. $80.6M a year ago. ENI of $105.6M vs. $43.2M.
- Conference call at 10 ET
- Previously: KKR misses by $0.11, misses on revenue
- KKR -0.8% premarket
Jul. 24, 2014, 8:06 AM
Jul. 23, 2014, 5:30 PM
- AAL, ABC, ALK, ALXN, ARG, ASPS, BBW, BC, BCC, BHE, BKU, BMS, BMY, BPOP, BSX, CAB, CAM, CAT, CCE, CELG, CLF, CLFD, CLI, CMS, COG, CRI, CRY, CSH, CWEI, DAN, DFT, DGX, DHI, DLX, DNKN, DO, DPS, DST, ECA, EQM, EQT, F, FAF, FLIR, GM, GNTX, GPI, GPK, GRUB, HOT, HSY, IMAX, IMS, IQNT, ISSI, IVC, JAH, JBLU, KEM, KKR, LAZ, LLY, LTM, LUV, MHO, MMM, MTH, MTRN, NBL, NDAQ, NOK, NUE, NWE, O, ORI, OSTK, PCP, PDS, PENN, PHM, PNK, POT, PRLB, PTEN, QSII, RCI, RCL, RDWR, RS, RTIX, RTN, SCHL, SFE, SIAL, SQNS, SUI, SVU, SXC, TDY, TROW, TWI, UA, UAL, UFS, UNP, USG, VAC, VDSI, VIVO, WAB, WCC, WIT, WYN, ZMH
Jul. 23, 2014, 5:38 AM
- The Royal Bank of Scotland (NYSE:RBS) is looking to retreat from Ireland as it considers selling Ulster Bank to a private equity firm, Reuters reports quoting the Irish Examiner.
- The newspaper mentions that private equity firms KKR (NYSE:KKR) or Apollo (NYSE:APO) would be the most likely candidates to buy the bank.
- The sale is dependent on the stipulations involving Ulster's distressed assets, but a price of $673M-$3.4B is expected.
Jul. 18, 2014, 2:00 AM
- The buyout collusion lawsuit continues, as Blackstone (NYSE:BX), KKR (NYSE:KKR) and TPG Capital now enter talks to settle the LBO court case filed against them and eight other PE firms for conspiring not to jump each others bids after buyouts were announced. The trial is scheduled for November 3.
- Previously, Lake Partners, Bain Capital and Goldman Sachs' private equity arm all agreed to multi-million dollar settlements after being charged of colluding in deals prior to the financial crisis.
Jul. 14, 2014, 7:00 AM
- KKR (NYSE:KKR) is buying two minority stakes in European online marketplaces for $175M. The first digital business called Scout24 Schwiez operates car and real estate websites, while the second called Omnimedia is an online advertising agency.
- The new move outlines KKR's private equity focus toward fast-growing digital businesses.
- "This is the future of private equity," said Philipp Freise, who leads KKR's European media industry team. "We have to become solutions providers and invest much more flexibly. In many cases, it doesn't matter if we don't use debt or have a majority stake. If you like a business, you have to partner and be creative in how you offer entrepreneurial capital."
Jul. 14, 2014, 4:29 AM
- After closing its $500M stock hedge-fund last month, KKR has pivoted itself back into the hedge-fund market by purchasing a 24.9% stake of BlackGold Capital Management, a $1.4B fund in the natural-resources and energy sector.
- KKR is concentrating on diversifying its business, slowly moving into the hedge-fund sector from corporate buyouts.
- The hedge-fund business of KKR currently includes a $10B fund of hedge funds, KKR Prisma, and its minority stakes in external funds.
Jul. 10, 2014, 2:26 AM
- Continuing with its Australian expansion, KKR is now planning to enter a joint bid with Pacific Equity Partners for compliance company SAI Global (SGLOF). The two will make an offer before the July 15 bid deadline.
- Pacific Equity previously launched a $1B non-binding proposal for SAI in May, but SAI Global related that other prospective buyers had also contacted it and therefore published more information about its business.
Jul. 9, 2014, 9:16 AM
- KKR and fellow private equity firm Riverstone Holdings agree to merge existing assets in KKR Natural Resources Funds with the assets of Riverstone portfolio company Legend Production Holdings to create Trinity River Energy. Terms are not disclosed.
- The new firm will be headquartered in Ft. Worth and brings together complimentary producing properties and acreage in the Barnett Shale, along with properties in the Permian Basin, East Texas, South Texas, Louisiana, and Mississippi.
- The deal is expected to close in Q3.
- Source: Press Release
Jul. 9, 2014, 7:59 AM
- Headquartered in Scotland with regional hubs worldwide, OEG Offshore is a provider of specialist equipment to the offshore oil and gas industry. KKR has purchased a majority interest in the company with OEG management continuing to hold a sizable stake. Terms are undisclosed.
- KKR's Dominic Murphy: "OEG has built an impressive track record of growth and has an exciting development path ahead, expanding its fleet, geographic coverage, and suite of products and services."
- Soure: Press Release
- In other KKR news, the stock is boosted to Outperform at Credit Suisse with price target lifted to $333 from $29.
Jul. 1, 2014, 7:50 AM
- Known an Americana, Kuwait Foods Co. is a Middle Eastern food manufacturer and a franchise operator of restaurants like KFC, TGI Friday's, and Pizza Hut in MENA.
- KKR is among the firms considering a bid for the stake of Americana's largest shareholder, the Al-Kharafi family, reports Bloomberg. The bid could value the entire company at about $5B, according to sources. In Kuwait trading today, Americana shares rose 3.6%, valuing the company at $4.1B.
KKR vs. ETF Alternatives
Other News & PR