KKR to take Ocean Yield private as Kjell Inge Rokke cashes out in $829.5m takeover

Private equity giant Kohlberg Kravis Roberts (KKR) has pledged to expand Norwegian shipowner Ocean Yield after it agreed a NOK 7.2bn ($829.5m) takeover.

A KKR unit called Octopus Bidco has reached a deal with major Ocean Yield shareholder Kjell Inge Rokke to launch a cash offer at NOK 41 per share, 26% more than the NOK 32.54 closing price on Friday.