Guernsey, Channel Islands, United Kingdom
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.
CONTACT: Investor Contact: Integrated Corporate Relations Andrew Greenebaum / Anne Rakunas +1-310-954-1100 or Media Contacts: In the U.S: Kekst and Company Mark Semer +1-212-521-4800 or In Europe: Finsbury Simon Moyse +44-207-251-3801
Source: Business Wire (Business Wire India)