KKR Nears Deal to Purchase $2 Billion of Orange Bank Loans

KKR & Co is nearing a deal to buy about €1.9 billion ($2 billion) of loans from Orange Bank SA as the unit of the French telecom company pulls out of the financial services business, according to people familiar with the matter.

The private equity firm — which has been working with Morgan Stanley on the deal — is poised to win a competitive process that lasted months, said the people, who asked not to be named because the matter is private. The transaction involves three portfolios, mostly comprising home and consumer loans, they said.

Rothesay, a pensions insurance ...