KKR teams up with Michael Dell in offer for Germany’s GfK

FRANKFURT, March 4 (Reuters) – American IT entrepreneur
Michael Dell has agreed a deal to take a stake in the investment
vehicle that private equity firm KKR is using to invest
in German research firm GfK SE.

Dell built up a stake of just over 10 percent in GfK via his
MSD Capital fund, potentially throwing into doubt KKR’s plans to
take over the German company together with GfK Verein.

KKR said in a statement late on Friday it has agreed to
acquire around 3.7 million shares, equivalent to a 10.07 percent
stake in GfK from three shareholders. The three shareholders are
funds managed by Michael Dell.

KKR will pay around 50 million euros ($53.1 million) for a
portion of the shares, while around 6.89 percent of the shares
will be exchanged for a stake in the investment vehicle through
which KKR is investing in GFK, according to the statement.

The deal means KKR and GfK Verein have together passed the
75 percent threshold they needed for the 43.50 euro per share
offer for GfK to succeed.

The takeover values the German company at about 1.69 billion
euros.
($1 = 0.9416 euros)

(Reporting by Alexander Huebner; Writing by Victoria Bryan;
Editing by Alexander Smith)

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