Shares of Kohlberg Kravis Gain on Acquisition News - Analyst Blog


Shares of Kohlberg Kravis Roberts & Co. ( KKR ) gained 1.4% following the news of its acquisition of K Twin Towers, a prime commercial property in Seoul, in collaboration with LIM Advisors Limited, the multi strategy investment group focused on Asia. New York-based Kohlberg Kravis and LIM Advisors completed the transaction by acquiring 100% common equity in a trust managed by Vestas Investment Management, the Seoul-based real estate funds management company.

However, other terms and conditions of the transaction have not been disclosed. Deutsche Asset & Wealth Management, Shin & Kim, and Deloitte served as the legal advisors of both the parties in carrying out the transaction.

Located in Seoul's central business district, K Twin Towers occupies over 900,000 square feet spreading across 22 floors of premium office and retail space. Moreover, it offers elegant views of Gyeongbokgung Palace and the Presidential Blue House. K Twin Towers includes offices of financial institutions, law firms, multinational and South Korean corporations. It was crowned with a Green 2nd Rating by the government-backed environmental building certification system.  

For Kohlberg Kravis, this purchase is a nice attempt to expand its real estate footprint in South Korean market. Again, for the Hong Kong-based LIM Advisors, this acquisition has opened up the chance to work with a highly professional and top class investment firm like Kohlberg Kravis and obviously, to increase its investment in South Korea, where it has been investing since its inception.  

Kohlberg Kravis currently carries a Zacks Rank #3 (Hold). Better-ranked investment managers include Cohen & Steers Inc. ( CNS ), Woori Finance Holdings Co., Ltd. ( WF ) and Ameriprise Financial, Inc. ( AMP ). While Cohen & Steers and Woori Finance Holdings sport a Zacks Rank #1 (Strong Buy), Ameriprise Financial holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: AMP , KKR , WF , CNS

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