Twitter LinkedIn
    Sunday, March 26
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Acquisitions»Dealmaker KKR Acquires Norway’s Ocean Yield for $830M
    Acquisitions

    Dealmaker KKR Acquires Norway’s Ocean Yield for $830M

    September 20, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Deal-chasing private equity giant Kohlberg Kravis Roberts (KKR) is set to acquire Norwegian shipowner Ocean Yield. The two companies announced Monday that U.S.-based KKR will take control of Ocean Yield for a cash payment of $4.70 per share. The offer price implies a total valuation of about $830 million.

    The deal has been approved by Aker Capital AS – which holds a 62 percent controlling stake in the firm – and will result in delisting Ocean Yield from the Oslo Stock Exchange. Barring unforeseen circumstances, the companies expect to complete the deal in the fourth quarter of this year.

    “We have been impressed by what Ocean Yield’s management team and employees have achieved since the company was formed a decade ago through the strategy of investments in modern fuel-efficient vessels,” said Vincent Policard, KKR Partner and Co-Head of European Infrastructure.

    He added that with the acquisition, KKR intends to continue building a leading ship-leasing company by providing access to long-term capital.“We are pleased that KKR, a leading global investment firm with a strong track record in successful partnerships, is becoming a strategic partner to us,” said Lars Solbakken, Ocean Yield. He added that by leveraging KKR’s capital, expertise, and network, Ocean Yield will be well-positioned to build a substantially larger company.

    Read more/Source: The Maritime Executive

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    uncategorized
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    PE firm CVC buys $155 mln minority stake in Indonesia’s Samator Indo Gas

    March 17, 2023

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Warburg Pincus acquires K2 Insurance Services from Lee Equity Partners

    December 6, 2022

    CVC, HPS to buy stake in Authentic Brands at $12.7 bln valuation

    November 23, 2021

    Comments are closed.

    Other Articles

    Wellbeam Consumer Health acquires Penetrex

    April 6, 2021

    Global investors value China’s Ant Group at over $200 billion

    March 16, 2021

    KKR to Buy Most of Hitachi Transportation Unit

    April 21, 2022

    Canada’s CDPQ aims to buy stake in Brazilian infrastructure co CCR

    December 6, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?