|Bid||24.15 x 1200|
|Ask||33.00 x 4000|
|Day's Range||27.94 - 28.41|
|52 Week Range||18.74 - 28.73|
|PE Ratio (TTM)||12.69|
|Earnings Date||Oct 24, 2018 - Oct 29, 2018|
|Forward Dividend & Yield||0.68 (2.41%)|
|1y Target Est||31.69|
Driven by secondary and strategic sale activity, the Firm estimates having earned gross realized carried interest of approximately $450 million and total realized investment income of approximately $225 million, both on a segment basis. As disclosed earlier this year, as part of the Firm’s effort to increase transparency of monetization activities and quarterly financial progress, KKR intends to periodically disclose the expected impact of material monetization activities during a given fiscal quarter. The estimates disclosed above are not intended to predict or represent the realized carried interest, total realized investment income or total segment revenues for the full quarter ending September 30, 2018, because they do not include the results or impact of any other sources of income, including fee income, losses or expenses, and we may realize further gains or losses relating to carried interest and total realized investment income after the date of this press release.
Gibson Brands Inc.’s top executives will take home smaller compensation packages under a recent settlement with dissatisfied creditors who complained the two had a conflict of interest when negotiating the bankrupt guitar maker’s original reorganization plan. LP’s credit arm, GSO Capital Partners LP, said KKR was getting control of Gibson by “promising existing shareholders” some of the reorganized company’s value. Juszkiewicz and Berryman an “obvious conflict of interest” and “self-dealing.” The creditors also said it could explain why, in their view, Gibson failed to properly market its assets to other potential buyers.
Subscription radio company Sirius XM Holdings Inc. is buying music-streaming firm Pandora Media Inc. The all-stock deal is valued at about $3.5 billion, according to a joint statement from both companies. For every share of Pandora (NYSE: P) they own, shareholders will get 1.44 of newly issued shares of SiriusXM, the companies said in their announcement Monday. Sirius XM (NASDAQ: SIRI) owns about 15 percent of convertible preferred Pandora stock.
Calsonic Kansei lined up around €5 billion in financing from Japanese banks to acquire Magneti Marelli, a Fiat Chrysler unit, Reuters reported Friday.
LONDON/FRANKFURT (Reuters) - Calsonic Kansei has lined up around 5 billion euros (4.5 billion pounds) in financing from Japanese banks to fund its proposed acquisition of Fiat Chrysler's (FCHA.MI) unit Magneti Marelli, four sources familiar with the matter said. The Japanese car parts maker, which U.S. private equity fund KKR bought from Nissan and other shareholders in 2016, has been in talks with Fiat Chrysler (FCA) for months and has asked the likes of Nomura and Mizuho to finance its bid. Calsonic has made an initial proposal of 5.8 billion euros for Magneti Marelli, two of the sources said, but the final price could be revised after the Japanese group conducts in-depth due diligence on the Italian rival.
The $5.05 billion (3.81 billion pounds) term loan for Envision Healthcare is the third massive leveraged loan to hit the market since September and also looks set to benefit from huge institutional demand which has already seen multibillion buyout loans for Thomson Reuters’ F&R business, Refinitiv, and Akzo Nobel’s Specialty Chemicals business successfully placed. Envision’s loan will bring the total of jumbo loans syndicated since early September to US$20.7bn, in addition to the US$9.25bn loan for Refinitiv and Akzo Nobel’s US$6.44bn loan. Although the commitment deadline for Envision’s loan is October 1, the deal is already fully subscribed and is expected to tighten in line with the two previous jumbo deals, bankers said.
Vietnam-focused private-equity firm Mekong Capital said it sold garment maker Minh Hoang Garment to an undisclosed buyer. With the deal, the firm said it has now fully exited all investments from its first three funds. Mekong has completed 26 investments from its first three funds, following the divestment of Vietnamese company Mihn Hoang, it said in an announcement.
There is a new private-equity king in Asia. Hillhouse Capital Group, a Chinese investment firm that has backed many prominent internet and consumer companies, said Thursday it has closed a new $10.6 billion fund, the largest-ever capital raise by a private-equity firm in Asia. Founded in 2005 by Zhang Lei, a Chinese investor and entrepreneur who is also its chief executive, Hillhouse’s investments have ranged from minority stakes in technology startups to share purchases in publicly listed companies, to buyouts of entire businesses.
Hillhouse Capital, an investor in top Chinese technology firms including Tencent and Baidu, has closed its latest funding round at $10.6 billion, it said, making it the region's biggest private equity capital raising. The new fund, Hillhouse Fund IV, will look for investment opportunities across the healthcare, consumer, technology and services sectors globally, with a focus on Asia, the company said in a statement on Wednesday. Hillhouse's $10.6 billion fundraising exceeded the $9.3 billion raised by private equity firm KKR & Co's Asia-focused buyout fund in June 2017, which was a record for the region at that time.
KKR & Co. agreed to sell Singapore hard-drive component maker MMI Holdings Ltd. for about $645 million including debt, people with knowledge of the matter said, exiting the oldest Asian investment listed in its portfolio. KKR signed a deal to sell MMI, which it has owned for 11 years, to a Chinese buyout group led by an affiliate of Beijing HBH Innovation Industry Fund, according to the people. Cybernaut Investment Group, a private equity firm started by WebEx Communications Inc. co-founder Min Zhu, is also part of the consortium, the people said, asking not to be identified because the information is private.
Fiat Chrysler Automobiles NV will evaluate other potential buyers for its Magneti Marelli parts unit because the carmaker views a bid made by KKR & Co. as too low, people familiar with the matter said. KKR offered less than the 6 billion-euro ($7 billion) minimum valuation sought by Fiat, which ended the exclusivity of the talks, said the people, who asked not be named because the talks are confidential. The U.S. fund wanted to pay around 5 billion euros for Marelli because conditions for Fiat’s alternative plan of spinning off the division have deteriorated, people familiar with the matter said Sept. 12.
German retailer Metro AG (B4B.DE) plans to sell its struggling Real hypermarkets and is confident of interest in the chain, though bankers played down talk it might attract Amazon (AMZN.O) and a price tag of up to 1 billion euros (918.09 million pounds). Industry bankers contacted by Reuters said private equity firms were the most likely bidders and that Metro might have to effectively pay a buyer to take the chain off its hands. Foreign players have shunned the cut-throat German grocery market, which is dominated by discounters Aldi and Lidl, since Walmart (WMT.N) took a loss of $1 billion when it sold its stores to Metro and pulled out of the country in 2006.
Private-equity firm Carlyle Group is buying a majority stake in insurance firm Sedgwick, in a deal the companies value at $6.7 billion.
“We look forward to participating in Sedgwick's next chapter of growth and innovation and working with the company as it builds out its global platform," Carlyle's John Redett said in a release.
“We look forward to participating in Sedgwick's next chapter of growth and innovation and working with the company as it builds out its global platform."
Fiat Chrysler Automobiles NV is seeking more than 6 billion euros ($7 billion) for its car-part unit Magneti Marelli SpA in exclusive sale talks with a supplier owned by KKR & Co., a private equity firm that’s eyeing a lower pricetag, according to people familiar with the matter. The U.S. fund may aim to pay around 5 billion euros because conditions for Fiat’s alternative plan of spinning off the division have deteriorated, said the people, who asked not to be named because the talks are private. Fiat Chrysler chose to begin talks with KKR over an offer from competing fund Apollo Global Management of more than 6 billion euros, they said.
Private equity firms have been prolific investors in businesses that help companies cut costs by outsourcing large parts of their administrative functions, since such operations can generate strong cash flows. Carlyle has made a higher offer for Sedgwick than buyout firm Hellman & Friedman LLC, a former owner of the company that is also competing to acquire it, the sources said, cautioning that the outcome had not been finalized and no deal is certain. Sedwick's owners, buyout firm KKR & Co LP (KKR.N), Stone Point Capital and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), are hoping they can clinch a deal as early as this week, the sources said.
Private equity firms have been prolific investors in businesses that help companies cut costs by outsourcing large parts of their administrative functions, since such operations can generate strong cash flows. Carlyle has made a higher offer for Sedgwick than buyout firm Hellman & Friedman LLC, a former owner of the company that is also competing to acquire it, the sources said, cautioning that the outcome had not been finalised and no deal is certain. Sedwick's owners, buyout firm KKR & Co LP (KKR.N), Stone Point Capital and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), are hoping they can clinch a deal as early as this week, the sources said.
Shares of Yum China Holdings Inc. plummeted 15% toward a 17-month low in active trade Tuesday, to pace the NYSE's decliners, after Bloomberg reported that Hillhouse Capital was dropping its pursuit of operator of Pizza Hut and KFC fast-food restaurants in China. Volume ballooned to 7.6 million shares, already more than double the full-day average. The investor group, which includes KKR & Co. , decided to not continue pursuing the deal after the initial proposal was rejected, the report said, citing people with knowledge of the matter. The company, which was spun off from Yum Brands Inc. in October 2016, had a market capitalization of about $14.1 billion as of Monday's stock closing price. Yum China's stock has tumbled 25% over the past three months, while Yum Brands shares have gained 5.9% and the S&P 500 has tacked on 3.5%.
NEW YORK, NY / ACCESSWIRE / September 11, 2018 / U.S. markets were mixed Monday, with the Nasdaq and S&P 500 closing in the green as the technology sector rallied. The Dow Jones Industrial Average declined ...
Independent directors of Nine West Holdings Inc. proposed that Sycamore Partners LLC and a unit of KKR & Co. pay $470 million to settle potential lawsuits stemming from Sycamore’s 2014 leveraged buyout of the now-bankrupt shoe retailer. An ad hoc group of unsecured creditors that had been negotiating with Nine West disclosed the offer by the independent board members in bankruptcy court papers Monday. The group, which includes Aurelius Capital Management LP, Contrarian Capital Management LLC, Paloma Partners Management Co. and Centerbridge Partners LP, was negotiating with Nine West’s owners for about a month before the discussions stalled, the filings show.
Gibson Brands Inc. has reached settlements with key creditor groups that will allow the famed guitar maker to exit bankruptcy in the hands of new owners led by funds managed by KKR & Co. Gibson’s biggest creditors, including Blackstone Group LP’s credit arm GSO Capital Partners LP and electronics maker Koinklijke Philips NV, have been pushing the company to find an alternate buyer rather than hand control of Gibson over to the bondholder group led by KKR. Gibson, however, has reached a deal with key creditors, that will allow the company to stop marketing itself to other potential buyers and to cease any talks that may have started during the course of the company’s bankruptcy, according to court filings.
KKR & Co. Inc. today announced that effective today, Mary N. Dillon has been appointed to the Board of Directors of KKR. Her appointment will bring the number of independent directors on KKR’s Board to eight out of a total of twelve Board seats.
-- Names Heiner Luntz as European Finance and Operations Director and Ian Rigby as European Sales Director --
CNBC's David Faber is joined by Jonathan Gray, president of Blackstone, at Blackstone's Investor Day to discuss the potential result of the trade dispute between the U.S. and China.