KKR denies joint bid with MIG for Turkish shipping UN Ro Ro

Leading private equity firm Kohlberg Kravis Roberts & Co (KKR) has denied that it is involved in a joint bid with Greece’s Marfin Investment Group (MIG) seeking control of Turkish shipping company UN Ro Ro.

MIG officials had earlier claimed that KKR and MIG would submit a joint bid for an 87% stake in the shipping company.UN Ro Ro is considered one of the worlds top-ten short sea operators.

An unnamed KKR official told Bloomberg that KKR is acting alone and is not participating in any joint bid with MIG, quashing the Thomson Financial newsreport.

UN Ro-Ro Group is the largest shipping group in the Mediterranean and seventh largest in the world. The Group, established since 1994 has investments amounting to USD 600 mln and is made up of 5 companies with 177 shareholders-companies.