KKR makes move to buy Australian Perpetual
NEW YORK, October 18, 2010 - US investment firm Kohlberg Kravis & Roberts (KKR) has made a move to buy Australian investment fund Perpetual for a total of $1.73 billion, media reported Monday.
Perpetual said in a statement it has not yet replied to the offer, which has to be examined by a
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special commission set up by its administrative council.
Perpetual has an investment portfolio valued at $27 billion Australian , according to its website.
KKR, which was founded in 1976, began trading its shares at the New York Stock Exchange in July.
In recent weeks, the fund acquired a 23.44 per cent interest in Colonial Pipeline Company, a leading US developer of oil and gas pipelines.
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