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KKR Enters into an Exclusivity Agreement with Altice France
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KKR Enters into an Exclusivity Agreement with Altice France

June 21, 2018

LONDON & PARIS–(BUSINESS WIRE)– KKR, a leading global investment firm, today announces that KKR has entered into an exclusivity agreement with Altice France to acquire a stake of 49.99 per cent in the to be formed tower company, SFR TowerCo. The deal is subject to regulatory approvals in France and is expected to close in Q4 2018.

SFR TowerCo will comprise of 10,198 sites across France currently operated by SFR. KKR’s financial and operational support will help drive the continued growth and development of the company’s portfolio, strengthening its position as a leading telecom infrastructure provider in France. The transaction will give SFR TowerCo an enterprise value of €3.6 billion.

Under the terms of the deal, KKR and Altice France will partner to develop the largest independent TowerCo in France. The partnership with Altice further demonstrates KKR’s extensive experience investing in the telecommunication infrastructure sector, supporting the development of digital connectivity required for modern societies. Last year, KKR acquired a stake in Telxius, a leading critical telecom infrastructure owner and service provider in Europe and the Americas.

Vincent Policard, Member at KKR in the European Infrastructure team, said: “KKR is proud to be the preferred partner for Altice and SFR based on our strong experience in telecom infrastructure, our shared outlook for the sector and our track record in structuring partnerships alongside corporates.”

The investment is being funded by KKR’s global infrastructure funds.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners, hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside its partners’ capital and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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Alastair Elwen, +44(0)20 7251 3801
alastair.elwen@finsbury.com
or
Adding Value Conseils
Olivier Blain, +33 6 72 28 29 20
ob@addingvalueconseils.com

Source: KKR


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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

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