Skip to main content

Private equity firm KKR & Co LP has attracted binding bids from Danish shipping company DFDS A/S and an alliance of PE players Esas Holding AS and Actera Partners LP for its Turkish ferry unit, Bloomberg reported on Wednesday, citing sources.

U.N. Ro-Ro Isletmeleri AS, KKR's sole investment in Turkey, has also received interest from local infrastructure investor Global Yatirim Holding AS, though the company had not submitted a bid, the news agency quoted people with knowledge of the sale as saying.

KKR could not immediately be reached for comment.

The Esas-Actera joint bid was "best placed" to succeed, two sources told Bloomberg, adding that a buyer could be chosen before the end of July.

The unit could fetch a much lower price than what KKR paid back in 2007, as the shipping company's books reflected a debt pile of about $800 million, Bloomberg quoted three sources as saying.

KKR, which is run by Henry Kravis and his cousin George Roberts, bought the shipping company seven years ago for about 910 million euros ($1.24 billion).

 

Related Articles

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.