In Business This Week
DAZZLING SPEED AT KKR
Kohlberg Kravis Roberts is turning around a leveraged buyout in record time. On Sept. 30, KKR bought American Re-Insurance from Aetna Life & Casualty for $10 a share. Then, on Nov. 24, KKR outlined plans to sell about 25% of the reinsurer, raising some $300 million.
If American Re fetches the $28 a share KKR is seeking, the firm would be left, after dilution, with a 63.8% stake that soared 180%. In 55 days.EDITED BY HARRIS COLLINGWOOD