Kohlberg Kravis Roberts (KKR), the private equity firm, reportedly has dropped out of a consortium of companies that was considering making a play for J. Sainsbury, the UK’s second largest supermarket chain.
KKR apparently has decided to focus on its pursuit of UK-based pharmacy chain Alliance Boots, and believed that doing both deals at once might represent a conflict of interest.
The consortium with which KKR was working includes private-equity firms CVC Capital Partners, Blackstone Group International Ltd. and TPG Capital. The group was said to be in the “preliminary stages” of launching a bid for Sainsbury, though no such offer has been made and no price has been mentioned.
KKR apparently has decided to focus on its pursuit of UK-based pharmacy chain Alliance Boots, and believed that doing both deals at once might represent a conflict of interest.
The consortium with which KKR was working includes private-equity firms CVC Capital Partners, Blackstone Group International Ltd. and TPG Capital. The group was said to be in the “preliminary stages” of launching a bid for Sainsbury, though no such offer has been made and no price has been mentioned.
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