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  In 2008 the book 'Who Runs Britain'*, written by one Robert Peston, was published. (Essential reading. Said Howard Davis of The Times).
  The last chapter of this book, also titled - Who Runs Britain, opens by recounting some of the details of four separate stories that ran in the press on the first of June 2007.
  One of these stories was about the takeover of Boots by a leading US private equity firm;Kohlberg Kravis Roberts (KKR) and the concerns of the Boots pension trustees. Peston writes...
  "The main reason that pension trustees are usually concerned when private equity buys their respective parent companies is that the debts of those parent companies typically increase very sharply after a takeover - because private equity finances most of the cost of these deals with borrowed money. And if a company such as Boots is under pressure to pay the interest and principal on billions of pounds of debt, there may be less cash available for investment in the pension scheme."
  [He goes on to explain the part played by British banks in all this.]
  
  *
  ISBN: 978-0-340-83944-7 (RRP:£8.99)

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