KKR Private Equity Investors, L.P. (Euronext Amsterdam:KPE)
announced that it had committed to make a GBP 150 million
(approximately $300 million) co-investment in the acquisition of
Alliance Boots plc. This co-investment would be in addition to
approximately GBP 75 million (approximately $150 million) of capital
contributions that KPE expects to fund as a limited partner in certain
private equity funds of Kohlberg Kravis Roberts & Co. ("KKR").
Alliance Boots, Europe's leading pharmacy-led health and beauty
group, agreed to be acquired by AB Acquisitions Limited, a company
jointly controlled by certain funds advised by KKR and Alliance Sante
Participations S.A., an entity indirectly owned by Stefano Pessina,
pursuant to scheme of arrangement under the UK Companies Act. The
scheme circular was mailed to shareholders on May 8, 2007.
Approximately GBP 30 million (approximately $60 million) of KPE's
investment has been funded already as a portion of the equity
necessary in connection with purchases of Alliance Boots shares by AB
Acquisitions, as described in the scheme circular. The remainder of
KPE's investment will be used to fund a portion of the equity
necessary to complete the acquisition of Alliance Boots. This
announcement does not reflect any change in the terms of the
acquisition.
Whether the acquisition of Alliance Boots pursuant to the scheme
of arrangement and, accordingly, KPE's remaining investment will be
consummated depends on the satisfaction or waiver of a number of
conditions described in the scheme circular, some or all of which may
not be in the control of KPE, KKR PEI Investments, L.P. (its
subsidiaries) or KKR. No assurances can be made as to whether or when,
or the actual amount at which, this remaining investment will be
consummated.
KPE has made its commitment, has made its initial investment, and,
subject to the foregoing, will make its remaining investment through a
wholly-owned subsidiary of KKR PEI Investments, L.P., the investment
partnership through which KPE makes its investments.
About KPE
KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited
partnership that seeks to create long-term value 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.
