KKR paying €498m for Alliance Tire

ERJ staff report (BC)

New Delhi – New York-based private equity group Kohlberg Kravis Roberts (KKR) will purchase a 90 percent share of Alliance Tire Group from rival PEG WarburgPincus and Yogesh Kumar Mahansaria for about €498m, including a debt of €96m, reports Economic Times.

The deal is likely to be announced this week, according to the newspaper.

Under the proposed deal, Warburg Pincus will exit Alliance completely, while Mahansaria will own a 10 percent stake after selling 10 percent to KKR.

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