KKR Finalizes Tender Offer For Forum Engineering Common Shares And Options

(RTTNews) - Global investment firm KKR & Co. Inc. (KKR) on Wednesday said that it has successfully completed its tender offer for the common shares and share options of Forum Engineering Inc. The tender offer was conducted through KJ003 Co., Ltd., an entity, which is owned by funds managed by KKR.

The company said that following the settlement, which is scheduled for December 30, KJ003 Co. is expected to acquire 29.76 million shares of Forum Engineering, corresponding to a 55.89 percent ownership stake on a fully diluted basis.

Separately, Forum Engineering plans to launch a self-tender offer for its own shares, under which its major shareholder, La Terre Holdings Co., Ltd., is expected to tender its entire 37.07 percent stake. Upon completion of the self-tender, KJ003 Co. intends to acquire the remaining shares through a share consolidation process, resulting in full ownership of Forum Engineering.

KKR said that it is funding the investment mainly through its Global Impact Fund II.

On the NYSE, KKR ended Tuesday's trading at $131.00, down $0.42 or 0.32 percent.