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KKR plans bid with Australia's PEP for SAI Global - media
July 9, 2014 / 11:26 PM / 3 years ago

KKR plans bid with Australia's PEP for SAI Global - media

SYDNEY, July 10 (Reuters) - Global investment company Kohlberg Kravis Roberts & Co LP has joined with Pacific Equity Partners (PEP) to ready a joint bid for compliance company SAI Global, Australian media reported on Thursday.

The two companies are said to be preparing an offer for the standards, assurance and information business, with a bid expected by the July 15 deadline, the Australian Financial Review said.

PEP launched a A$1.1 billion ($1.0 billion) non-binding proposal for SAI in May, but the compliance company said other potential buyers had contacted it and decided to publish information about its business for all those interested.

Reuters reported in late June that at least two other parties were interested in acquiring PEP.

KKR has earmarked expansion in Australia, although a A$2.90 billion takeover offer for Treasury Wine Estates rejected in May.

$1 = 1.0629 Australian Dollars Reporting by Colin Packham; Editing by Richard Pullin

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