KKR near final exit from Legrand
KKR has sold a further 12.7 million shares in listed French electrical equipment group Legrand, according to reports.
The shares were priced at €27 per unit, which would allow KKR to reap an additional €342.9m from the sale. The buyout house is believed to now be holding around 1% of Legrand's share capital.
KKR, alongside Wendel Investissement, took the company private in 2003 – a deal that valued Legrand at €3.63bn. They re-introduced it on the stock exchange in 2006, retaining a joint 60% stake. The two investors have been selling down their shares ever since.
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