The merger of the Euronext listed, Guernsey fund, KKR Private Equity Investors (KPE), with Kohlberg Kravis Roberts, has been described as a "groundbreaking transaction," according to offshore law firm Ogier, which advised on the deal.
As soon as the necessary approvals are obtained, the merged firm will be listed on the New York Stock Exchange (NYSE), Ogier announced last week. The sale, which is conditional upon KPE unit holder and regulatory approvals, will combine the assets of KPE with the asset management business of Kohlberg Kravis Roberts & Co.
Ogier advised the independent directors of KPE's general partner, KKR Guernsey GP Limited. The board of the general partner comprises three independent directors and two KKR directors (Mr. Kravis and Mr. Roberts). Accordingly, the sale requires the separate consent of the independent directors.
The Ogier team was led by Roger Le Tissier, of the firm's Guernsey office, assisted by senior associate Andy Lowe and associates Rachael Sanders and Charisma Lyall.
Mr. Le Tissier commented: “We were pleased to advise the board of the General Partner on the difficult issues which arose in this groundbreaking transaction.”
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