GLOBAL - KKR finally completes KPE merger

frannie
01 October 2009

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After over a year of delays and revisions, US-based private equity giant KKR has now completed its merger with its Amsterdam-listed affiliate, KKR Private Equity Investors.

From today onwards, KPE will be known as KKR & Co and the common units will begin trading on Amsterdam's Euronext under the ticker "KKR" from 2 October.

KKR had originally planned a complicated transaction that would see the business simultaneously de-list its Amsterdam-listed fund KPE, before listing the combined business in New York. The move was originally planned for July 2008, but was postponed twice due to stock market volatility.

unquote" reported in June that a revised deal had been agreed, which would see the business initially remain listed in Amsterdam before seeking a floatation on the New York Stock Exchange later. KPE shareholders have the right to enforce a listing on NYSE if no action has been taken within a year.

The transaction sees KPE receive interests representing 30% of the outstanding equity of the combined businesses, an increase on the initial offer of 21%. The transaction did not involve any the payment of any cash consideration.