Storytel AB (publ) (OM:STORY B) entered into an agreement to acquire Audiobooks Inc. from KKR & Co. Inc. (NYSE:KKR) for an enterprise value of approximately $140 million on November 12, 2021. The enterprise value for the acquisition amounts to $135 million on a cash and debt free basis and will be paid in cash. The acquisition will be financed through existing funds and a newly issued SEK 500 million ($57.48 million) bridge loan facility, with termination date in first quarter of 2023, with Swedbank AB (publ). The transaction is subject to customary regulatory approvals and is expected to close at the end of December 2021. LionTree Advisors, LLC acted as financial advisor to Audiobooks. Weil, Gotshal & Manges LLP acted as legal advisors to Storytel. Marni Lerner, Adam Shapiro, Marcy Geller, David Rubinsky, Lori Lesser, Krista McManus, Michael Isby and Sara Razi of Simpson Thacher represented an affiliate of KKR in the transaction.

Storytel AB (publ) (OM:STORY B) completed the acquisition of Audiobooks Inc. from KKR & Co. Inc. (NYSE:KKR) on January 7, 2022.