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KKR & Co., management to acquire SMCP Group

KKR & Co. and SMCP Group, a ready-to-wear affordable luxury apparel retailer, announced that KKR signed a definitive agreement with SMCP's current shareholders to acquire a majority stake in the company alongside its management team. KKR will own approximately 65% of the company's share capital with management retaining approximately 35%. The agreement remains subject to regulatory approvals and customary closing conditions.