Finedining Capital to Launch Voluntary Public Tender Offer for WMF AG's Preference Shares

Munich (ots) -

- Intention to launch voluntary public tender offer for all
outstanding preference shares of WMF
- Cash offer to all holders of preference shares of EUR 53 per
share
- Offer represents a premium of about 11 percent on the volume
weighted three-month average price of Opera's preference shares.
Moreover, it represents a premium of 67 percent on the price
that KKR paid for the WMF preference shares in the course of the
voluntary public takeover offer in 2012

18 June 2014 - Finedining Capital GmbH, a holding company
indirectly controlled by funds advised by KKR (together with
affiliates, "KKR"), today announced its intention to launch a
voluntary public tender offer for all outstanding preference shares
(ISIN DE0007803033) of WMF AG ("WMF"). WMF is a global market leader
for professional coffee machines and a European market leader for
kitchen and tableware.

The offer price will be EUR 53 per share. Under the terms of the
public tender offer, holders of WMF preference shares will receive a
premium of about 11 percent on the estimated volume weighted
three-month average price of WMF's preference shares (1). The offer
also represents a premium of 67 percent on the price that KKR paid
for the WMF preference shares in the course of the voluntary public
takeover offer in 2012.

FIBA Beteiligungs- und Anlage GmbH ("FIBA") as the other major
shareholder alongside KKR in WMF, supports KKR in its strategy. The
two parties today entered into an agreement that establishes the
framework for the further strategic development of WMF AG. KKR and
FIBA will combine their shareholdings in WMF in a holding structure,
if the public tender offer is executed and anti-trust clearance is
given. KKR will remain in control. Today, KKR holds 71.56 percent and
FIBA 25.07 percent of the voting rights in WMF. In addition, KKR
holds 6.56 percent of the preference shares of WMF.

The aim is to achieve a participation of at least 90 percent of
WMF's stated capital to implement a squeeze-out of the minority
shareholders against payment of an adequate cash compensation. Hence,
the offer will be subject to the condition that through the offer and
the combination of KKR's and FIBA's shares, a shareholding quota of
90 percent is reached. This can be reached if circa 75 percent of
preference shares - excluding the ones currently held by KKR - will
be tendered into the offer or acquired at the same time. In addition,
the offer is subject to clearance by the relevant regulatory bodies.

KKR and FIBA agree that the intended simplification of the
corporate structure is for the benefit of WMF and that the new
structure will help WMF to continue the company's long-term growth
strategy initiated by the management. Being publicly listed does
currently not entail considerable advantages for WMF as it binds
significant management time.

The public tender offer will only be made pursuant to an offer
document to be approved by the German Federal Financial Supervisory
Authority (BaFin). The offer document will be published following
receipt of permission from BaFin, at which point the public tender
offer will commence. The offer document and other information
pertaining to the public tender offer will be made available at a
later date in accordance with the German Securities Acquisition and
Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) on the
following website: www.finedining-offer.com.

WMF AG preference shares are listed on the regulated market
(regulierter Markt) - General Standard - on the Frankfurt Stock
Exchange and on the regulated market (regulierter Markt) on the
Stuttgart Stock Exchange under ISIN DE0007803033.

[(1) The final volume weighted three-month average price will be
determined by BaFin.]

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About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is
a leading global investment firm with $102.3 billion in assets under
management as of March 31, 2014. With offices around the world, KKR
manages assets through a variety of investment funds and accounts
covering multiple asset classes. KKR seeks to create value by
bringing operational expertise to its portfolio companies and through
active oversight and monitoring of its investments. Moreover,
portfolio companies benefit from KKR's extensive global network as
well as access to the global capital markets. KKR & Co. L.P. is
publicly traded on the New York Stock Exchange (NYSE: KKR). "KKR", as
used in this release, includes its subsidiaries, their managed
investment funds and accounts, and/or their affiliated investment
vehicles, as appropriate.

KKR has invested over $4.4 billion in 16 private equity
transactions in Germany since 1999. Across its current portfolio of
companies globally, 30 have operations in Germany, employing more
than 34,000 people in the country. The current portfolio includes
companies such as Kion, WILD Flavors and Versatel.

For additional information, please visit KKR's website at
www.kkr.com.

Disclaimer and Forward-Looking Statement

This release is neither an offer to purchase nor a solicitation of
an offer to sell WMF AG shares or any other security. The offer
document and the terms and conditions contained therein shall have
sole relevance in respect of the offer. Investors and shareholders of
WMF AG are advised to read all documents relevant to the public
tender offer to be published by Finedining Capital GmbH because they
will contain important information. Investors and shareholders of WMF
AG will be able to receive the offer document as well as other
documents pertaining to the offer from the website
www.finedining-offer.com once these become available.

To the extent permissible under applicable law or regulation,
Finedining Capital GmbH or its brokers may purchase, or conclude
agreements to purchase, shares of WMF AG directly or indirectly,
outside the public tender offer, before, during or after the period
in which the offer remains open for acceptance. These transactions
may be completed via the stock exchange at market prices or outside
the stock exchange at negotiated conditions. Any information on such
purchases will be disclosed to the extent required by applicable law
or regulation in Germany or in the United States.

This release may contain forward-looking statements, including
such related to the public tender offer, the expected future business
of WMF AG, Finedining Capital GmbH and other entities, and the
expected benefits to customers, employees and shareholders. These
statements are based on the current expectations of the management of
Finedining Capital GmbH and persons acting jointly therewith pursuant
to section 2 para. 5 WpÜG and are inherently subject to risks,
uncertainties and changes in circumstances. These expectations or any
forward-looking statements could prove to be incorrect, and actual
results could differ materially from those projected or assumed in
the forward-looking statements. The potential risks, uncertainties
and changes in circumstances that could cause actual results to
differ from those expected include, among others, risks related to
the settlement of the public tender offer and the failure of the
market to develop as expected. Finedining Capital GmbH and persons
acting jointly therewith pursuant to section 2 para. 5 WpÜG do not
undertake any obligation to update the forward-looking statements to
reflect actual results, or any change in events, conditions,
assumptions or other factors.

Contact:
KKR:

Dominik Veit

Telefon: +49(0)69 92187487

E-Mail: dveit@heringschuppener.com