PRINT THIS PAGE KKR wins exclusivity for DaimlerChrysler's MTU aero-engine unit sale05/11/2003. Source: AltAssets. 
 US private equity giant KKR is closing in on another big European buy-out deal by winning the right to exclusive talks with DaimlerChrysler about the sale of its MTU aero-engines business. The unit is expected to be valued at around E1.5bn and a successful close would confirm KKR as a major player in the European market.
KKR is reported to have secured financing from Commerzbank, CSFB and JP Morgan, according to Reuters. The move into exclusivity puts KKR ahead of the other private equity firms circling MTU, including Doughty Hanson, Blackstone and Carlyle.
KKR is among a growing number of US private equity firms trying to build a presence in Europe. But unlike many of its compatriots, it has already made a significant impact on the continent, with the E3.6bn purchase of Legrand and the E1.7bn purchase of a string of assets from Siemens.
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