KKR vehicle in exclusive talks to buy Italy’s Sirti: Reuters

Pillarstone Italy, an investment vehicle set up by U.S. private equity fund KKR, has entered exclusive talks to buy Italian telecommunications group Sirti, it said on Monday.

Pillarstone Italy aims to purchase the technology group, which used to be listed on the Milan bourse, to reorganise it and turn it around, it said in a statement without giving financial details of the deal.

KKR has originally created Pillarstone Italy to take on a portfolio of soured loans from Italian banks Intesa Sanpaolo and UniCredit