NEW YORK May 5 KKR Financial Holdings LLC
KFN.N withdrew on Wednesday its plan to sell additional
common shares, just two days after it said it was seeking to
raise money for acquisitions through the offering.
KKR Financial Holdings, a specialty finance company managed
by private equity firm Kohlberg Kravis Roberts & Co [KKR.UL],
said on Monday it would sell 25 million common shares.
But in a statement on Wednesday, the company said it was
canceling its plans, citing "current unfavorable market
conditions due to the recent volatility of global equity
KKR Financial had not given an estimated price range for
Bank of America Merrill Lynch, Citi, Deutsche Bank
Securities, KKR Capital Markets LLC and Morgan Stanley were
operating as joint book runners on the offering.
(Reporting by Phil Wahba; editing by Carol Bishopric)