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KKR gets licence to operate in Saudi Arabia

Global private equity firm KKR & Co has received a licence from the Saudi Capital Markets Authority (CMA) to conduct business in the kingdom, Reuters has reported. The CMA Board of Commissioners issued a resolution today...authorizing KKR Saudi Limited Company to conduct arranging," a statement from the regulator on Sunday said. The statement did not provide any more details. KKR began its operations in the region with an office in Dubai in 2009. US private equity firm Carlyle Group expects to complete a deal in Saudi Arabia by the end of the year, a senior executive said early this year.