KKR Buys Majority Stake in $1 Billion Spanish Solar Firm
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KKR & Co. bought an 80 percent stake in Gestamp Asetym Solar SL that values the Spanish solar power plant developer at about $1 billion.
The private-equity firm, run by billionaire cousins Henry Kravis and George Roberts, acquired the holding from Gestamp Renewables Corp. The deal backs the developer’s plan to operate 2.5 gigawatts of solar photovoltaic capacity by 2020, KKR said Tuesday in a statement.