KKR gets go ahead from competition authorities
The£11.02 billion takeover of Alliance Boots by private equity giant Kolberg Kravis Roberts (KKR) has been given the green light by the European Union competition authorities.
The judgement was reached after the European Commission approved a simplified review of the deal after finding that it did not pose any potential anti-trust problems. The simplified procedure automatically clears a deal after one month if complaints by customers or competitors are not received.
The decision marks the final chapter in Europe's largest private-equity buy-out. In April, KKR triumphed in a battle with a rival private equity consortium led by financier Guy Hands' Terra Firma.
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