KKR a Possible Buyer of Seized Bank:...
From Times Staff and Wire reports
KKR a Possible Buyer of Seized Bank: Kohlberg Kravis Roberts & Co., the pioneer of leveraged buyouts, has emerged as one of the suitors for Bank of New England and its affiliates, the American Banker trade publication reported. New York-based KKR, best known for its $25-billion leveraged buyout of RJR Nabisco Inc. in 1989, joins two banking companies that have confirmed their interest--BankAmerica Corp. and Banc One Corp.--and at least three other potential bidders. The Bank of New England was seized by regulators on Jan. 6.
