New York-based investment company KKR & Co Inc (KKR) has acquired 30% of the shares of Norwegian telecommunications company Telenor. The agreed sales price represents an enterprise value for the Norwegian fibre business of NOK36.1 billion (GBP3 billion).
KKR, which was advised on the deal by a team from London-based Gibson, Dunn & Crutcher, is investing through its Core Infrastructure strategy. The investment consortium includes Oslo Pensjonsforsikring as a co-investor.
The company’s assets will be transferred from Telenor Norway in a demerger process prior to completion of the transaction. Telenor will maintain 70% of the shares, and the transaction is expected to be completed in early 2023.
Read more: Private Equity Wire
