11:27 AM EDT, 06/21/2024 (MT Newswires) -- KKR & Co ( KKR ) said Friday it agreed to acquire Superstruct Entertainment, a company that owns and operates music festivals in Europe and Australia, from Providence Equity Partners.

Financial terms of the deal weren't disclosed.

Under the deal, Providence has an option to invest 250 million euros, or about $267 million, into Superstruct, KKR said.

Shares of KKR were down more than 2% in recent trading.

Price: 107.48, Change: -2.58, Percent Change: -2.34