PRINT THIS PAGE KKR to exit Canadian Yellow Pages27/05/2004. Source: AltAssets. 
 Canada's Yellow Pages Income Fund is planning to issue C$743m of shares in a deal which marks Kohlberg Kravis Roberts' (KKR) final exit from the company.
KKR and the private equity arm of Ontario Teachers' Pension Plan Board acquired control of the Yellow Pages Group for $3bn from Bell Canada in September 2002, beating off competition from a number of rival private equity firms, including Blackstone. KKR acquired a 60 per cent stake, Teachers acquired a 30 per cent stake and Bell Canada retained ten per cent.
Yellow Pages then became an income trust in August last year in a C$1bn initial public offering. The transaction cut KKR's stake to about 42 per cent, and in December a further $1.5bn offering trimmed the stake held by KKR to just over 19 per cent.
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