- KKR & Co Inc (NYSE:KKR) inked a deal to buy Rakuten Group, Inc’s (NYSE:RKUNF) stake in Seiyu. KKR is making its investment from its Asian Fund IV. Further details of the investment were not disclosed.
- Per the terms, a fund managed by KKR will raise its share in Seiyu, a leading national supermarket chain in Japan, to 85% from 65%.
- KKR and Rakuten, along with Seiyu’s third shareholder, Walmart Inc. (NYSE:WMT), had joined hands to aid Seiyu’s growth since KKR and Rakuten invested in the company in 2021.
- Also related: KKR Builds On Its Investment In India’s Serentica Renewables – What’s On The Cards
- “We are pleased to deepen our relationship with Seiyu, an iconic Japanese brand in which we continue to see strong promise. We look forward to unlocking the company’s full potential through the continued strategic partnership with Rakuten and Walmart, which brings together our respective expertise in investing behind a company’s growth, global best-in-class practices, and thoughtful customer experience,” said Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and CEO of KKR Japan.
- Also Read: KKR Q1 Performance: Fall In EPS, Book Value, Growth In AUM
- Price Action: KKR shares closed lower by 1.16% at $48.61 on Thursday.
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