KKR Plans to Combine BHP, Rio Tinto Diamond Assets, Times Says

KKR & Co. (KKR) plans to combine the diamond assets that Rio Tinto Plc (RIO) and BHP Billiton Ltd. (BHP) are seeking to sell, the Sunday Times reported, without saying where it got the information.

KKR is leading bids in a $750 million auction of BHP’s Ekati diamond mine in Canada after other suitors, including Apollo Global Management LLC (APO) and Gem Diamonds Ltd. (GEMD), dropped out of the sales process, the newspaper said. Harry Winston Diamond Corp. (HW) and Stornoway Diamond Corp. remain in the running, the Sunday Times reported.

KKR appointed Brian Menell to advise on its plans, according to the newspaper

A spokeswoman for KKR declined to comment when reached by phone today.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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