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Corrs Private Equity: Consortium deals – plan ahead for a good working relationship02 November 2006
The proposal by a consortium of private equity funds led by Kohlberg Kravis Roberts & Co (KKR) to bid for Coles Myer has thrown consortium deals into the spotlight. Given that fund terms usually limit the amount a private equity fund may invest in a single deal, it is becoming common for private equity funds to pursue increasingly large deals as part of a consortium. To take another recent example, in July, a consortium of private equity funds in the United States, including KKR, agreed a takeover of HCA, Inc for US$21 billion, which, if successful, will be one of the largest leveraged buy-outs in history.
This article provides information about topical legal issues.
Information contained in this article is intended as an introduction only
and should not be relied on in place of legal advice.
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