Harley-Davidson Soars as KKR, Pimco to Buy Stake in Finance Arm
Shares of Harley-Davidson Inc. surged Wednesday after the motorcycle maker announced plans to monetize part of its finance unit through selling a nearly 10% stake and more than $5 billion of retail loans.
KKR & Co. and Pacific Investment Management Co. will each buy 4.9% common-equity interests in Harley-Davidson Financial Services as well as retail loan receivables at a premium to face value, Harley-Davidson said in a statement. Bloomberg News reported Monday that advanced talks on a deal were occurring.