Yesterday, 7:00 AM
- KKR (NYSE:KKR) and Hong Kong-based Anchor Partners are in talks to buy a majority stake in Groupon's (NASDAQ:GRPN) South Korean unit for around 350B won ($316M), Reuters reports quoting the Korea Economic Daily.
- The two firms are in final talks to acquire a 51% stake in e-commerce firm Ticketmonster.
- GRPN -1.5% premarket
Sun, Mar. 15, 5:47 AM
- In one of the biggest deals in the Asia-Pacific region so far this year, a consortium of KKR (NYSE:KKR), Varde Partners and Deutsche Bank (NYSE:DB) has agreed to buy GE (NYSE:GE) Capital's Australian and New Zealand consumer lending arm for about $A8.2B ($6.26B).
- The move comes after General Electric disposed of its appliances unit, real estate holdings and a stake in NBCUniversal, and shed more of its banking businesses to return to its industrial focus.
- Previously: GE reportedly weighing deeper cuts to banking business (Mar. 11 2015)
Tue, Mar. 10, 2:18 PM
- KKR (NYSE:KKR) is in advanced talks to acquire Air Medical Group from Bain Capital in a deal that could value the U.S. helicopter ambulance company at around $2B including debt.
- A deal could be announced as early as this week.
- Bain acquired Air Medical in 2010 in a $1B deal.
- Bain is working with Barclays on an auction for Air Medical.
- Source: Reuters
Mon, Feb. 2, 6:46 AM
- CRH (NYSE:CRH) is not planning to keep control of all the assets it has agreed to buy from Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY).
- The Irish building supplies company is now in talks with private equity firm KKR (NYSE:KKR) to partner on some.
- CRH +5.8% premarket
- Previously: CRH to buy Lafarge, Holcim assets (Feb. 02 2015)
Dec. 13, 2014, 2:16 PM
- Leon Black’s Apollo Global Management (NYSE:APO) appears to have edged out KKR (NYSE:KKR) in the final round of bidding for PetSmart (NASDAQ:PETM), NY Post says.
- A deal could be announced as soon as this weekend.
- Banks led by Barclays and Citi are arranging $6.25B in debt financing, which is more than 6.5x PETM's Ebitda, exceeding the Fed's guideline of 6x Ebitda. Sources say at least two more banks dropped out of the running in recent weeks after being warned by the Fed and the OCC about taking on excess leverage.
- Previously: Banking issues cloud PetSmart buyout (Dec. 8), Report: Banker anxiety could derail PetSmart buyout (Dec. 5), P-E firms circle around PetSmart (Dec. 3)
Nov. 19, 2014, 2:06 AM
- As the auction for PetSmart (NASDAQ:PETM) heats up, buyout firms KKR (NYSE:KKR) and Clayton, Dubilier & Rice have teamed up to take the pet food retailer private for more than $7.5B, Reuters reports.
- Petsmart, which reported a FQ3 beat after the bell yesterday, said in August it would explore a potential sale amid pressure from Jana Partners and other activist investors.
- KKR and CD&R are planning to submit a joint bid next month. Apollo Global Management (NYSE:APO) and BC Partners are also considering offers.
- PETM +2.6% AH
Nov. 7, 2014, 12:58 PM
- P-E firms including KKR, Apollo Global Management (NYSE:APO), BC Partners and Clayton Dubilier & Rice have been invited to the final round of bidding for PetSmart (NASDAQ:PETM), WSJ reports.
- A deal to take PETM private would be the largest leveraged buyout of the year, according to data from Dealogic.
Oct. 23, 2014, 10:51 AM
- KKR (KKR +1.4%) is taking a serious look at PetSmart (PETM +0.6%), according to the New York Post.
- The investment firm has a nice track record in the pet supplier business after guiding Pets at Home to a profitable IPO.
- Firdt-round bids on PetSmart are due in by the end of the month with JPMorgan overseeing the action.
- Investors haven't really assigned a buyout premium on PETM as shares trade lower than they did three months ago.
Sep. 29, 2014, 3:31 AM
- Australia's Treasury Wine Estates (OTCPK:TSRYY) has ended talks with private equity bidders for the sale of its business.
- "It is now apparent to the company that the bidders are not able to support a transaction on terms and at a price acceptable to the Board," says Treasury.
- The last takeover approach was made by TPG Capital in early August for $3.1B, and matched a bid from KKR (NYSE:KKR) and Rhone Capital.
Sep. 3, 2014, 4:07 AM
- German internet service provider United Internet (OTC:UDIRY), has agreed to acquire full control of Versatel, a company which owns Germany's second-largest fiber optic cable network.
- United Internet, which announced it was considering the takeover last month, will now acquire the 74.9% of Versatel it didn’t already own from KKR (NYSE:KKR) for €586M ($769M) in cash.
Aug. 18, 2014, 6:36 AM
- KKR (NYSE:KKR) and Australian property manager Abacus Property Group have agreed to buy 70% of the World Trade Center in Melbourne for A$120.4M ($112.1M).
- The stakes in Towers 2, 3 and 4 of the World Trade Center will provide an initial yield of 9.3% a year, says Abacus.
- The deal will be KKR's first real estate investment in Australia, having previously focused on markets such as China, India and South Korea.
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. 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. 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. 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."
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