• News

KKR to sell two German businesses after two years

Kohlberg Kravis Roberts, the US private equity house, is selling two businesses from a package it bought two years ago from Siemens, the German engineering group.

JP Morgan, the US bank, is running two auctions for the businesses. Stabilus, a manufacturer of hydraulic systems for cars and the larger of the two groups, could fetch more than €500m ($617m). A source involved in the auction process said it had attracted 10 bids from trade and private equity buyers. Another banking source said European private equity firms PAI,...