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KKR gains control of more than 90 pct of WMF stock
August 28, 2014 / 8:55 AM / 3 years ago

KKR gains control of more than 90 pct of WMF stock

FRANKFURT, Aug 28 (Reuters) - Buyout group KKR said it has obtained more than 90 percent of WMF’s share capital, putting it on track to gain full control of the German cutlery and coffee-machine maker and delist it.

Stakeholders tendered 74.7 percent of preference shares in WMF for 58 euros ($76.62) apiece, KKR said on Thursday. Including a stake that co-owner Andreas Weissenbacher has agreed to sell, KKR’s holding rises to 90.30 percent of KKR’s share capital.

KKR said it planned to squeeze out minority shareholders.

$1 = 0.7569 euro Reporting by Maria Sheahan; Editing by Victoria Bryan

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