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KKR Looking To Ride Harley-Davidson?
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Harley refused to comment on the market talk of a looming deal, which at least one analyst dis
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Laundry Room Chronicles: Talking KKR’s Un-IPO
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My weekly segment with Reuters Insider was about KKR's pending IPO, which isn't really an IPO at all. Per usual, filming took place from an 8x8 room filled with dirty clothes and video equipment:
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KKR Leading Deal for India’s Cafe Coffee Day
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KKR, Standard Chartered Private Equity and New Silk Route are to invest in the privately held company, which has about 900 cafes in India, acc
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KKR and Warner Consider EMI Breakup Bid
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LONDON (Reuters) - Private equity firm KKR and Warner Music Group (WMG.N) are in talks to launch a break-up bid for Warner’s indebted British rival EMI, the Sunday Times newspaper said. The paper said KKR is interested in acquiring the music publishing arm of EMI, which it says bankers value at around 1.2 billion pounds ($1.8 billion), while Warner Music wants EMI’s recorded music division, which it says is more difficult to value. EMI is owned by private equity group Terra Firma Capital Partners Ltd but is in dispute with its lender Citigroup (C.N), whic
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PE Debt Watch (Upgrades & Downgrades)
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 This week Moody’s has some distaste for the Intergraph dividend recap, downgrading the company’s corporate family rating and calling the payment, which increases the company’s leverage by one and a half turns, “aggressive.” Company: HCA Inc. Sponsor: Bain Capital, KKR. Action: Moody's Investors Service assigned a Ba3 rating to the company’s proposed offering of $1.0 billion of first lien senior secured notes due 2020. Moody's also affirmed the existing ratings of HCA, including the B2 corporate family and probability of default ratings. Highlight: "Much like the secured note offerings completed in 2009, the current transaction continues to chip away at the considerable amount of bank debt scheduled to mature in the 2012 and 2013 time frame," said Dean Diaz, Vice President -- Senior Credit Officer at Moody's. Read more »
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KKR Files for NYSE Listing
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Private equity firm Kohlberg Kravis Roberts & Co KKR.UL has filed to list its shares on the New York Stock Exchange, moving forward with its two-year effort to become a publicly traded company. Read more »
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First Data CEO Steps Down, Joining KKR
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Michael Capellas has stepped down as CEO of First Data Corp., in order to become a tech-focused senior advisor at KKR. First Data board member Joe Forehand, former chairman and CEO of Accenture, will take over as chairman and interim CEO. First Data is a KKR portfolio company. Read more »
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Abhijit Sen Named KKR India CFO
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| Posted on: March 9th, 2010 |
Abhijit Sen has joined KKR as chief financial officer and chief administrative officer of the firm's Indian operations. He is the former South Asia CFO for Citigroup.
PRESS RELEASE
KKR today ann...
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KKR Cannot Predict Timing of NYSE Listing
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| Posted on: February 25th, 2010 |
Private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) said on Thursday it could not predict the timing of its long-sought New York Stock Exchange listing, but it would move as promptly as practic...
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KKR Confirms NYSE Plans, Will Pay Dividend
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| Posted on: February 25th, 2010 |
NEW YORK (Reuters) - Euronext-listed private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) on Wednesday moved another step closer to gaining a long-sought New York Stock Exchange listing, as ...
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KKR, TPG in Talks To Buy CIC Corp. Stake From Morgan Stanley
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| Posted on: February 23rd, 2010 |
(Reuters) - Morgan Stanley is in late stage talks to sell its stake in China International Capital Corp to Kohlberg Kravis Roberts & Co and TPG Capital for more than $1 billion, according to three sou...
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KKR Forms North American Oil & Gas Partnership
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| Posted on: February 10th, 2010 |
KKR and Premier Natural Resources LLC have formed a partnership to invest in North American oil and gas properties. No financial terms were disclosed.
PRESS RELEASE
Kohlberg Kravis Roberts &...
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KKR, Bain, TPG Vie for Morgan Stanley CICC stake
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| Posted on: February 2nd, 2010 |
HONG KONG (Reuters) - Three U.S. private equity firms are on a shortlist to submit final bids for Morgan Stanley's (MS.N) $1 billion plus stake in China's top investment bank, three sources briefed on...
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KKR and Bain’s Bold Dividend on HCA – Why Not Wait for the IPO?
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| Posted on: January 29th, 2010 |
Given the expectations that hospital operator HCA would file an S-1 to go public any day now, it's a surprising development that PE owners KKR, Bain Capital and Merril Lynch Private Equity today took ...
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The Teamsters Don’t Know What They’re Talking About
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| Posted on: January 28th, 2010 |
The Teamsters were out in semi-force on Tuesday morning, protesting a speaking appearance by KKR partner Alex Navab at the PEA Outlook conference in New York City. A bit of jeering, but mostly just ha...
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KKR Buys Into Rudolf Wild
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| Posted on: January 27th, 2010 |
KKR has acquired an undisclosed position in the German Flavours and Ingredients business of Rudolf Wild GmbH & Co. The deal will not result in management changes, and is designed to facilitate a p...
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KKR’s Navab: Media Opportunities Abound
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| Posted on: January 27th, 2010 |
Private equity may have opportunity to buy, partner with or invest in the under-pressure media sector, as the industry is likely to continue to combine and sell assets, KKR executive Alexander Navab s...
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KKR To Launch Consumer JV with Jonathan Grayer
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| Posted on: January 25th, 2010 |
NEW YORK (Reuters) - Private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) is to launch a partnership to invest in consumer services, education and media businesses, a source familiar with th...
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BMG/KKR Venture Mulls Investment Options
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| Posted on: January 22nd, 2010 |
FRANKFURT (Reuters) - BMG Rights Management, the music venture owned by Bertelsmann and KKR, is looking at a number of potential investment projects backed by bank credit of up to 600 million euros ($...
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Capmark Investments Files for Bankruptcy
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| Posted on: January 15th, 2010 |
NEW YORK (Reuters) - Capmark Investments LP, which said it manages more than $1.7 billion of equity real estate and mortgage-related investments, filed for bankruptcy protection on Friday, less than t...
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Report: KKR In Talks To Swap Energy Future Debt
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| Posted on: January 8th, 2010 |
(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co is in talks with certain lenders to swap unsecured debt in Energy Future Holdings Corp for debt guaranteed by Oncor, the New York Post ...
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Ferraro Discusses Cadbury with Hershey, PE Firms
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| Posted on: January 2nd, 2010 |
MILAN (Reuters) - Italian confectioner Ferrero has met with private equity firms as well as Hershey Co (HSY.N) to discuss a possible bid for Britain's Cadbury Plc (CBRY.L), Il Sole 24 Ore daily report...
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KKR Loses Erickson Retirement Auction
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| Posted on: December 23rd, 2009 |
NEW YORK(Reuters) - Erickson Retirement Communities LLC, a bankrupt U.S. retirement community developer, said on Wednesday that Redwood Capital Investments, won an auction to acquire substantially all...
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KKR Bids on Erickson Retirement Communities
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| Posted on: December 22nd, 2009 |
NEW YORK (Reuters) - Private equity firm Kohlberg Kravis Roberts & Co (KKR.AS) has led a team bidding for Erickson Retirement Communities LLC, a bankrupt U.S. retirement community developer holdin...
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What’s Left At Forstmann Little?
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| Posted on: December 22nd, 2009 |
Everyone remembers Forstmann Little & Co., the once-great buyout house that never really survived the telecom crash, sputtering its way to a full-on halt in 2006. And like we all know, part of the...
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General Atlantic, KKR Close TASC Buyout
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| Posted on: December 18th, 2009 |
General Atlantic and KKR have completed their $1.65 billion acquisition of the TASC consulting unit of defense contractor Northrop Grumman (NYSE: NOC).
PRESS RELEASE
TASC, Inc. (TASC) a premier ...
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Dollar General Swings to Profit
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| Posted on: December 10th, 2009 |
NEW YORK (Reuters) - Discounter Dollar General Corp's (DG.N) reported a quarterly profit on Thursday as the retailer benefited from higher customer traffic from bargain-seeking shoppers, sending share...
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KKR, Wendel Cutting Legrand Stake To 50%
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| Posted on: November 23rd, 2009 |
PARIS (Reuters) - French investment company Wendel (MWDP.PA) and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR.AS) said on Monday they would cut their stake in French electronics comp...
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KKR Earnings Call: Smaller Deals, Growth Investments
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| Posted on: November 20th, 2009 |
NEW YORK (Reuters) - Private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) said current deal opportunities include buying noncore subsidiaries from companies and providing rescue and growth c...
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KKR Reports Q3 Profit
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| Posted on: November 19th, 2009 |
NEW YORK (Reuters) - Private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) reported a third-quarter profit on Thursday and said it is seeing improving debt markets and opportunities to inves...
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Dollar General Prices at Low End of IPO Range
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| Posted on: November 12th, 2009 |
NEW YORK (Reuters) - Discount retailer Dollar General Corp (DG.N) priced shares in its initial public offering at $21 each, at the low end of expectations, in the latest effort by a private equity fir...
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KKR China Dealmaker Warns About Focus on Control
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| Posted on: November 12th, 2009 |
HONG KONG (Reuters) - Private equity groups investing in China must give up on the idea of taking control of target companies, which often are run by entrepreneurs with an emotional stake in their bus...
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KKR, General Atlantic Buying TASC for $1.65 Billion
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| Posted on: November 8th, 2009 |
NEW YORK, Nov 8 (Reuters) - Defense contractor Northrop Grumman (NOC.N) has agreed to sell its TASC consulting unit to two buyout firms, General Atlantic and Kohlberg Kravis Roberts & Co., for $1....
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Dollar General Set To Price at Rich Valuation
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| Posted on: November 7th, 2009 |
NEW YORK (Reuters) - Dollar General (DG.N) is set to go public next week, but the discount retailer could see mixed results in its closely watched initial public offering as its private equity backers...
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Damn Kids To Blame for KKR’s Bad Deal
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| Posted on: November 5th, 2009 |
Yesterday Dan linked to this WSJ interview with Henry Kravis and George Roberts, but I wanted to point out my two favorite parts. I was amazed that Roberts blamed "younger people at the firm" for one ...
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ProSieben Outlook Remains Vague
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| Posted on: November 5th, 2009 |
BONN (Reuters) - German commercial broadcaster ProSiebenSat.1 Media AG (PSMG_p.DE) remained vague on targets for the full year after it reported a third-quarter core profit that missed expectations.
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Which Most-Hated CEOs are Private-Equity Backed? (Surprisingly Few)
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| Posted on: November 4th, 2009 |
Yesterday, Glassdoor.com released its "CEO Watch List," which ranks CEOs by employee approval ratings. The blog post doesn't explicitly state its methodology but it appears they create the list from e...
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Dollar General Sets IPO Terms
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| Posted on: October 31st, 2009 |
NEW YORK (Reuters) - Kohlberg Kravis Roberts & Co's discount retailer Dollar General Corp (DG.N) set the terms of its initial public offering on Friday, in a sign that the $750 million offering co...
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Energy Future Debt Swap Gets Few Takers
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| Posted on: October 24th, 2009 |
NEW YORK (Reuters) - Energy Future Holdings has extended the deadline on a massive debt exchange after getting just a fraction of the participation it had sought, the company said in a statement on Fr...
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Energy Future Extends Debt Exchange Deadline
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| Posted on: October 21st, 2009 |
NEW YORK (Reuters) - Energy Future Holdings has extended the deadline for early offers in its debt exchange, a massive debt restructuring that ran into opposition from bondholders, according to a comp...
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Me and Kravis: Sitting on a Stage
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| Posted on: October 21st, 2009 |
One of my jobs at yesterday's Quebec City Conference was to interview Henry Kravis, following his keynote speech. Plenty friendly (to me), despite his fearsome reputation. Some takeaways:
* Kravi...
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KKR Invests in Chinese Financing Leasing Firm
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| Posted on: October 14th, 2009 |
HONG KONG (Reuters) - An investor consortium led by U.S. buyout giant Kohlberg Kravis Roberts & Co announced on Wednesday that it poured a combined $160 million into a Chinese financial leasing fi...
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KKR-Backed Capmark Nearing Bankruptcy
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| Posted on: October 13th, 2009 |
(Reuters) - Capmark Financial Group Inc., the commercial real estate company created through a 2006 leveraged buyout of certain GMAC assets, is preparing to file for bankruptcy possibly by the end of ...
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Weekly Downgrade Wrap-Up
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| Posted on: October 9th, 2009 |
As usual, we have a week's worth of ratings actions on the debt of LBO-backed companies from Standard & Poor's Ratings Services and Moody's Investors Service. This week was relatively slow, with t...
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Report: Energy Future Debt Restructuring in Jeopardy
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| Posted on: October 9th, 2009 |
(Reuters) - Kohlberg Kravis Roberts and Co's plan to restructure the debt of Energy Future Holdings Corp (EFH), following a leveraged buyout in 2007, is in jeopardy due to opposition from its key bo...
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Arun Sarin Rejoins KKR as Senior Advisor
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| Posted on: October 7th, 2009 |
Arun Sarin, former CEO of Vodafone PLC, has rejoined Kohlberg Kravis Roberts & Co. as a senior advisor. There had been reports late last year that Sarin turned down an offer to become CEO of Yaho...
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KKR Completes Merger with Amsterdam Affiliate, Becomes Publicly-Traded
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| Posted on: October 1st, 2009 |
NEW YORK (Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. closed a long-awaited deal on Thursday to buy its Amsterdam-quoted fund, becoming a Euronext- listed company and completing t...
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