KKR to acquire sister business

INVESTMENT firm KKR said yesterday it would acquire KKR Financial Holdings in an all-stock deal that would value the speciality finance company it launched more than nine years ago at $2.6bn (£1.9bn).

“Through this transaction, we are acquiring a business with a fully invested, complementary portfolio of assets while increasing the scale and diversity of KKR’s balance sheet,” KKR’s co-founders and co-chief executives Henry Kravis and George Roberts said in a statement.