KKR Makes $94M Play For French Unit Of Italian Energy Co.

Law360, New York (July 30, 2012, 5:00 PM EDT) -- Private equity giant KKR & Co. LP's infrastructure fund has made a binding €76.5 million ($94.2 million) offer for A2A Coriance SAS, the French unit of Italian energy company A2A SpA, the utility announced Monday.

The transaction, which will transfer 100 percent of Coriance's shares to KKR Global Infrastructure Investors LP, is part of A2A's strategy to increase revenue and pay off debt. When the deal closes, it will shrink A2A's debt by more than €160 million and result in more than €30 million in earnings,...
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