buyout group KKR acquire Selecta Group from Allianz Capital Partners (ACP).
Selecta’s shareholders still need to approve the deal, the companies said in statement on Monday.
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Selecta is a European vending services operator with operations in 21 countries. The company has over 4, 500 employees, and 145, 000 point-of-sales. Selecta generates over $790 million in revenue.
Allianz bought Selecta in 2007 for $1.53 billion. Althiough the firma involve in the deal did not disclose a price tag, Reuters citied person familiar with the deal who said: “it was able to reap a positive purchase price from the stake sale.”
KKR has supported Selecta since 2014, when KKR Credit provided $249 million in long-term financing as part of the Group’s overall refinancing.
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