Word: kkr
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Dates: during 2000-2009
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...offer is on the table, an unappetizing €4.4 billion stock offer from supermarketer William Morrison that Safeway no longer supports. Three bigger retailing rivals - Tesco, Sainsbury and Wal-Mart - are likely to encounter serious anti-trust obstacles if they make bids, bankers say, and the two financial bidders, KKR and Philip Green, would load the retailer up with debt. With the volume of merger activity in Europe down 62% from 2000 and off 20% from 2001, according to Thomson Financial, bankers are elbowing for a place at the Safeway table. "There's a perception at many banks that...
...reinvent themselves--when they are financed by private-equity funds and banks instead. The buyout firm Kohlberg Kravis Robert recently created a $3 billion European fund and started scouting the Old World for new privatization deals. "There are lots of opportunities here," explains Ned Gilhuly, managing director of KKR's European operations in London. "We believe there will be more, and sizable, deals in Europe." So does London private-equity firm BC Partners, which last month topped KKR by raising a $3.27 billion fund to join the privacy movement...
...growth is continuing; deals during the second quarter of 2000 were worth $8.7 billion, a 334% increase over the first quarter. In Continental Western Europe, the trend is even steeper: 27 deals worth $3.84 billion last year, up from three deals worth $224.3 million in 1998. Significant transactions include KKR's $940.5 million acquisition of British conglomerate Wassall, whose primary holding is Thorn Lighting, a manufacturer of light fixtures; and the $1.4 billion buyout of the German bathroom-fixtures maker Friedrich Grohe, led by BC Partners...