The capital-investment company at the center of a series of tenders for British companies leads to the 1.7 billion pound sterling race to buy the owner of the operations of Argos Store-Card.
Sky News has learned that KKR is the fratrunner to buy Newday Group, which belongs to the cinven and CVC Capital Partners buyout companies.
KKR is not in exclusive talks and other parties – which include Pimco, the asset management giant, KKR and a consortium led by Bain Capital – remain in the running to acquire Newday.
Some of the tenderers, such as Pimco, were interested in continuing an agreement to buy a consumer loan book in Newday rather than as a whole; Others, including KKR, are interested in acquiring all activities, but potentially with its existing shareholders who remained invested for a period of time.
Newday, who took possession of the activity of Argos store cards last year in an agreement of 720 million pounds sterling with J Sainsbury, the supermarket giant, has explored a sales or scholarship registration for months.
Last November, Sky News reported that Newday owners were lining up for investment bankers at Barclays to advise a process.
Newday is one of the largest private consumer credit service providers in Great Britain, with around four million customers.
Last year, he brought in 213 million pounds sterling profits before underlying taxes, with new acquisitions of customers up 36%.
He also launched a technological partnership and ready with Lloyds Banking Group, and launched the pilot of a technological partnership with Debenhams Group in the last quarter of last year.
KKR has embarked on tender wars in recent months for insurance, the owner of general surgeries and the provider of Specient test equipment – who are both registered on the London stock market.
Newday, KKR and CVC refused to comment.