KKR Private Equity Investors, L.P. (Euronext Amsterdam:KPE)
announced that it has entered into a commitment to make a $250 million
co-investment with affiliates of Kohlberg Kravis Roberts & Co. L.P.
(KKR) in their previously announced agreement to acquire Dollar
General Corp. This co-investment would be in addition to at least $100
million of capital contributions that KPE expects to fund as a limited
partner in KKR's private equity funds.
Dollar General is a Fortune 500(R) discount retailer with 8,260
neighborhood stores as of March 2, 2007.
KPE's investment would be made immediately prior to the closing of
the transaction. As previously announced, the transaction is subject
to the approval of Dollar General shareholders, customary closing
conditions and regulatory approvals. The transaction is expected to
close in the third quarter of 2007.
Whether this investment will be consummated depends on the
satisfaction or waiver of a number of conditions, some or all of which
may not be in the control of KPE, KKR PEI Investments, L.P. or KKR. No
assurances can be made as to whether or when, or the actual amount at
which, this investment will be consummated. KPE has made its
commitment, and will, subject to the foregoing, make its investment,
through its investment partnership, KKR PEI Investments, L.P.
About KPE
KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited
partnership that seeks to create long-term value primarily by
participating in private equity and opportunistic investments
identified by Kohlberg Kravis Roberts & Co. (KKR). Formed in April
2006, KPE enables certain public market investors to invest in
KKR-identified investments. KPE will invest at least 75% of its assets
in KKR's private equity investments, while up to 25% of its assets may
be invested opportunistically in other investments identified by KKR.
KPE makes its investments through another Guernsey limited
partnership, KKR PEI Investments, L.P., as its sole limited partner.
The common units and related restricted depositary units of KPE
are subject to a number of ownership and transfer restrictions.
Information concerning these ownership and transfer restrictions is
included in the Investor Relations section of KPE's website at
www.kkrpei.com.
Forward-Looking Statements
This release may contain certain forward-looking statements with
respect to the financial condition, results of operations, liquidity,
investments, business, net asset value, and prospects of KPE. By their
nature, forward-looking statements involve risk and uncertainty,
because they relate to events and depend on circumstances that will
occur in the future, and there are many factors that could cause
actual results and developments to differ materially from those
expressed or implied by these forward-looking statements. KPE does not
undertake to update any of these forward-looking statements.
