KKR Completes £288 Million (US$446 Million) Sale of Shares in Pets at Home Group Plc
06.10.15
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The Firm has represented affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”) on the sale of 108 million ordinary shares in Pets at Home Group Plc (“Pets at Home”).
The secondary offering, which was effected pursuant to a block trade by way of an accelerated book build, raised gross sale proceeds of approximately £288 million (US$446 million).
The sale brings KKR’s aggregate shareholding in Pets at Home to approximately 24.6%, down from 46.2% following Pets at Home’s IPO in March 2014.
Pets at Home, whose shares are admitted to the premium listing segment of the UKLA’s Official List and to trading on the London Stock Exchange plc’s Main Market for listed securities, is the U.K.’s leading specialist retailer of pet food, accessories and services, operating from 400 stores located across the U.K.
The London-based Simpson Thacher team included Adam Signy, James Connor and Martin Weatherston-Wilson (U.K. Corporate and Capital Markets); Nick Shaw and Manuela Gonzalez-Arias (U.S. Capital Markets); and Meredith Jones (U.S. Tax).