Reuters: Private Equity: KKR eyes deal to buy BHP, Rio diamond units-report

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KKR eyes deal to buy BHP, Rio diamond units-report Apr 15th 2012, 14:53 LONDON, April 15 | Sun Apr 15, 2012 10:53am EDT LONDON, April 15 (Reuters) - Private equity giant KKR is working on a deal to buy and merge the diamond mining units of BHP Billiton and Rio Tinto, the Sunday Times reported. KKR has appointed an adviser to help it with the joint bid strategy, the Sunday Times said, without citing sources. KKR declined comment. Sources told Reuters last month KKR was one of the few remaining parties working on a possible bid for BHP Billiton's Canadian EKATI diamonds mine, after other bidders including Apollo and Gem Diamonds pulled out. Meanwhile, Rio Tinto, the world's third-largest miner, effectively invited bids last month for its three diamonds mines.

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