Dollar bills 370.
(photo credit: Steve Marcus / Reuters)
KKR LLC will acquire a 75-percent controlling interest in Alliance Tire Group
Ltd. from Warburg Pincus LLC, according to people familiar with the
KKR will pay $500 million for Alliance Tire, generating a profit
of hundreds of millions of dollars for Warburg Pincus, Reuters
Warburg Pincus’s Indian partner in Alliance Tire, Yogesh
Mahansaria, will keep a stake in the company and will work with KKR, the report
said. KKR may ultimately own 90% of Alliance Tire and will partly finance the
acquisition with debt, which will be backed by collateral. The closing will be
in July, subject to various conditions.
Alliance Tire has bonds listed on
the Tel Aviv Stock Exchange.
The bond debt totals NIS 135m.