KKR Said to Offer Own Investors Minority Stake in Visma

KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, is offering its investors a minority stake in Visma AS, a Norwegian software company, according to three people with knowledge of the matter.

KKR, which acquired a 63.5 percent stake in Visma in 2010, has offered a number of its larger investors the chance to buy shares, said the people, who asked not to be identified because the talks are private. KKR intends to retain 25 percent of Visma and would continue to manage the company, the people said.

The New York-based asset manager is also offering outside bidders the chance to buy the stake and may also seek an initial public offering for the Oslo-based company, said the people. Private-equity firms Charterhouse Capital Partners LLP and Hellman & Friedman LLC are both studying bids, though they would prefer a controlling stake in Visma, said two other people.

KKR bought its stake in Visma from London-based private-equity firm HgCapital LLP in a deal valuing the whole company, including debt, at about 11 billion Norwegian kroner ($1.8 billion), according to a statement at the time. HgCapital retained a minority stake.

Representatives for KKR, Charterhouse, Hellman & Friedman and Visma declined to comment.

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