Kohlberg Kravis Roberts & Co., which won...

Kohlberg Kravis Roberts & Co., which won control of RJR Nabisco Inc. in November, plans to divest the tobacco conglomerate’s holdings in South Africa amid pressure from investors who oppose that nation’s race policies. The two holdings are Royal Beechnut, a confectioner, and South African Preserving Co., which produces canned fruit. The move came after the treasurer of Michigan threatened to withhold its $110-million pension fund investment in KKR’s buyout of RJR because of the company’s South African interests. Michigan has a law that took effect Jan. 1 barring investment in companies with ties to South Africa.