KKR sells entire stake in Philippines-based First Gen for $411 million

U.S. private equity firm KKR has sold its entire 19.9% stake in Philippine power producer First Gen for approximately 25.77 billion pesos ($410.48 million). This sale to investment firm Angsana Finance reverses KKR's earlier strategy, as it had recently sought to increase its holding in First Gen, a proposal which was rejected by First Gen's parent company, First Philippine Holdings Corp. The transaction concludes KKR's six-year investment in the company.