KKR picks up 2.5% stake in Bharti Infratel
PRIVATE equity firm Kohlberg Kravis Roberts & Co (KKR) has picked up 2-2.5% stake in Bharti Infratel for $250 million, reports Our Bureau from New Delhi. Infratel is the hived-off telecom tower arm of Bharti Airtel. This is the second major placement in Infratel. In December-end, a clutch of international investors lead by Singapore government’s investment arm Temasek had picked up 8-10% stake in the company for $1 billion. Other global investors who were part of that deal were Investment Corporation of Dubai, Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners. This takes the total private placement made by Bharti Infratel to $1.25 billion. Bharti Infratel owns over 20,000 sites across the country.