KKR keen on buying diamond assets of BHP Billiton and Rio Tinto

Kravis Roberts & Co. (KKR) has come forth with the intent to buy out the diamond mining units of Rio Tinto and BHP Billiton, as reported in leading media. Reports also state that KKR was one amongst other entities still in the fray to buy BHP Billiton's Canadian EKATI diamonds mine, following a drop out of other bidders including Apollo and Gem Diamonds.

KKR intends to buy and merge both its purchases. To assist it in the buy out, the company has appointed an adviser.