June 27, 2011 / 8:14 AM / 6 years ago

KKR gets license to operate in Saudi Arabia

DUBAI, June 27 (Reuters) - Private equity giant KKR & Co LP has received a license from Saudi market regulator Capital Markets Authority (CMA) to conduct business in the oil-rich country, a bourse filing showed.

“The CMA Board of Commissioners issued a resolution today...authorizing KKR Saudi Limited Company to conduct arranging,” a statement from the regulator on Sunday said.

The statement did not provide any more details.

A spokesman for the company in London declined to comment.

KKR, co-founded by “buyout king” Henry Kravis, began its operations in the region with an office in Dubai in 2009. Several private equity firms have set up shop in the Gulf Arab region in the last few years, attracted by rapid economic growth and high oil prices.

A spokesman for the company in London declined to comment.

U.S. private equity firm Carlyle Group expects to complete a deal in Saudi Arabia by the end of the year, a senior executive said early this year.

(Reporting by Dinesh Nair, Editing by Erica Billingham)

dinesh.nair@thomsonreuters.com; + 971 4 391 8301; Reuters Messaging:dinesh.nair.reuters.com@reuters.net

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