NEW YORK: Kohlberg Kravis Roberts & Co (KKR) and Bain Capital have teamed up with Vornado Realty Trust to buy struggling retailer Toys R Us Inc for about US$5.7bil, beating out a bid from rival private equity firm Cerberus Capital, the Wall Street Journal reported.
The sale of the whole company, at a premium of 10% to its latest market value of US$5.2bil, comes as a surprise after a hotly contested seven-month auction of the retailer’s toy business.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
