KKR invests $125M in NewSouth

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New York--Kohlberg Kravis Roberts & Co. is furthering its b-to-b binge. The investment firm will invest $125 million in NewSouth Communications, a Greenville, S.C.-based provider of high-speed Internet access and telephone services to businesses. KKR snapped up $125 million in NewSouth stock with options to purchase $65 million more. A host of other investors, including J.P. Morgan Capital and First Union Capital Partners, plugged an additional $45 million into NewSouth.
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