KKR related stories
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Buyout interest in Coles ends as Wesfarmers continues(2)All eight of the large buyout firms in the race to buy Coles Group, Australia’s second largest retailer, have now dropped out of the running. Trade buyer Wesfarmers is now expected to complete the $19 billion transaction, which will be the largest in the country to date, without private equity support.
- LBO giants launch PR offensive in Germany
Hanns Ostmeier has stepped down from The Blackstone Group to chair the German Venture Capital Association’s new mega-buyout platform.
- KKR to obtain securities broker-dealer license(3)
KKR is reportedly seeking a securities broker-dealer license. An industry insider has said this could mean KKR wants to launch an advisory division – diversifying its business lines prior to a possible IPO – or possibly to further solidify its legal standing as a syndicator of investments.
- New Look auction collapses(3)
UK retailer New Look looks likely to be refinanced rather than sold, after the final consortium targeting the company failed to agree with the vendors’ valuation and withdrew from the auction.
- New Look auction collapses(2)
UK retailer New Look looks likely to be refinanced rather than sold, after the final consortium targeting the company failed to agree with the vendors’ valuation and withdrew from the auction.
- Hands defends carry tax(3)
Guy Hands, chief executive of Terra Firma and one of the UK private equity industry’s most forthright advocates, has defended the current tax treatment of carried interest. He believes it is right to distinguish it from other types of remuneration, since it rewards “long-term capital investment” by buyout executives.
- Cov-lite and Cov-loose every time(2)
As ratings agency Standard & Poor’s criticises covenant loose loans for being covenant-lite by the backdoor, a senior banker tells Toby Lewis cov-lite loans will become extinct.
- HM Capital to acquire Yellow Pages company(3)
HM Capital became the latest in a slew of private equity firms to invest in distributors of yellow pages directories, when it announced an agreement to acquire Phone Directories Company. The investment is the first from HM’s new Sector Performance Fund.
- Boots chairman: let regulator decide on pensions(3)
Alliance Boots chairman Sir Nigel Rudd thinks the UK Pensions Regulator should be allowed to decide the appropriate level of funding for the pension schemes of companies involved in buyout deals.
- Carlyle plots $22bn Virgin Media bid
The Carlyle Group is preparing a $22 billion takeover bid for UK cable TV and mobile phone business Virgin Media, as it looks to replicate the success of its previous European investments in the sector.