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KKR gains exclusivity in €1.5bn Vendex bid

A private equity consortium led by Kohlberg Kravis Roberts is in exclusive talks to make a €1.46bn ($1.78bn) bid for Vendex KBB, the Dutch quoted retailer advised by ABN Amro and Citigroup.

An increased offer from €14 to €16 per share is expected from the consortium which includes AlpInvest Partners, a Dutch private equity firm that spun out of NIB Capital last month and Change Capital Partners, a private equity firm set up by Luc Vandevelde, chairman of UK retailer Marks and Spencer.

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