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KKR cooks up an exit from WMF

May 24, 2016 - The Deal Pipeline
Mergers and Acquisitions

New York's Kohlberg Kravis Roberts & Co. (KKR) will offload its German kitchenware and coffee machine maker W├╝rttembergische Metallwarenfabrik AG after cooking up a €1.7 billion ($1.9 billion) deal with French pots and appliances maker Groupe SEB SA.

SEB will pay €1.02 billion in cash for the business, better known as WMF, and take on €565 million of debt and a further €125 million in retirement liabilities. The deal values the target at an enterprise value of abou...