In a Monday announcement, the private equity firm Kohlberg Kravis Roberts (KKR) said that it had worked out a merger deal with its European buyout fund KKR Private Equity Investors, also known as KPE, which will help it finally go public!

The merger with its Amsterdam-listed affiliate will give KKR a Euronext Amsterdam listing, along with leaving it with the option of later pursuing a public listing in New York.

Under the KKR-KPE agreement, which was backed three KPE directors - who are independent of both KPE and KKR - the two companies would merge their entities; giving the New York-based KKR a 70 percent holding of the combined business, and KPE investors 30 percent.

According to a KKR statement, the transaction - sans any cash exchange or new securities issued, and with no KKR owners needing to sell any of their holdings - would likely be completed on October 1, provided a majority of KPE unit-holders approve the agreement during voting in the third quarter. In fact, 44 percent of the affiliate's investors already support the KKR-KPE merger!

About the deal with KPE, the KKR founders - Henry Kravis and George Roberts - said: "We are thrilled to be taking this next step in K. K. R.'s evolution. We believe the combined business will be well-positioned to take advantage of the dynamic and exciting opportunities in asset management and financial services."