KKR group holds 29.3 pct Alliance Boots shrs-source

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Tue Apr 24, 2007 7:31am EDT

LONDON, April 24 (Reuters) - The consortium of private equity firm Kohlberg Kravis Roberts [KKR.UL] and Alliance Boots AB.L deputy chairman Stefano Pessina holds a total 29.3 percent stake in Britain's biggest pharmacy chain, a source familiar with the situation said on Tuesday.

The stake was increased after the consortium purchased shares in the market earlier in the day. The total stake includes a 15 percent stake held by Pessina.

Market sources said the consortium's latest purchase of 25 million shares was made at 1,130 pence per share. The consortium earlier on Tuesday raised its offer for Alliance Boots to 1,139 pence per share in cash, or about 11 billion pounds.

The consortium's latest offer trumps an indicative bid of 1,126 pence a share from private equity firm Terra Firma [TERA.UL], which is working with medical charity Wellcome Trust and banking group HBOS HBOS.L in the proposed offer.

By 1140 GMT, shares in Alliance Boots were flat at 1,128 pence in a weaker broader market.

((Reporting by Eleanor Wason and Anshuman Daga, Reuters Messaging rm:// anshuman.daga.reuters.com@reuters.net; Email: anshuman.daga@reuters.com; Telephone: +44 20 7542 6437))

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