KKR To Absorb Listed Specialty Finance Co.

Dec 17 2013 | 11:56am ET

Kohlberg Kravis Roberts is bringing its publicly-traded corporate-debt management business fully in house.

The private-equity giant will acquire KKR Financial Holdings as part of an all-stock deal valuing the company at $2.6 billion. KFN shareholders, who must approve the deal, will receive 0.51 KKR shares for each share of the specialty-finance company, a 35% premium to yesterday's closing price.

"Through this transaction, we are acquiring a business with a fully invested, complementary portfolio of assets while increasing the scale and diversity of KKR's balance sheet," KKR co-founders Henry Kravis and George Roberts said.

The deal is expected to close in the first half of next year.

KKR created KFN in 2004, six years before it went public itself.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of