Tags: KKR | Traded | Credit | Unit

KKR to Buy Its Publicly Traded Credit Unit

Monday, 16 Dec 2013 05:43 PM

KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, agreed to buy the publicly traded credit business KKR Financial Holdings LLC in a $2.6 billion transaction.

Investors will receive 0.51 KKR shares for each share in KKR Financial, valuing the public fund at $12.79 a share, a 35 percent premium to its closing price today, according to a statement Monday.

KFN has fallen more than 10 percent this year. William Sonneborn stepped down in July as chief executive officer of the business, and was replaced by Craig Farr, a capital markets executive at New York-based KKR.

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KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, agreed to buy the publicly traded credit business KKR Financial Holdings LLC in a $2.6 billion transaction.
KKR,Traded,Credit,Unit
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2013-43-16
Monday, 16 Dec 2013 05:43 PM
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