KKR Completes Aricent Acquisition

(Reuters) – Flextronics International Ltd (FLEX.O) said it had completed the sale of its stake in Aricent to Kohlberg Kravis Roberts & Co and CPP Investment Board for $255 million.

KKR entities now own 79 percent in Aricent, according to a statement issued by KKR.

The exact amount invested by CPP Investment Board, which manages Canada’s national pension fund, was not immediately clear.

Aricent, which makes communication equipment, listed KKR Sequoia Capital, The Family Office, Flextronics and Aricent management as its investors on its website.

Both KKR and Flextronics said the deal closed on Wednesday.

Shares of Flextronics closed at $7.29 on Thursday on Nasdaq. (Reporting by Santosh Nadgir in Bangalore; Editing by Jon Loades-Carter)