Rival bids fell short of KKR's sizeable offer.
Royalty's bid rejected as "grossly inadequate".
Directive to come into effect in July.
The firm hoped to get €200m for the toymaker, but bids reportedly came in at €165m.
Insurer already sold $400m worth of fund stakes to Lexington last year.
Private equity firms are taking longer to reach a first close and raising less capital when they do.
Strong results for the year, but questions linger over activist investor's plans for the firm.
The company has made 14 bolt-on acquisitions since 2008.
Distressed debt HIG affiliate exceeds its $1bn target.
Business managers fear increased regulations and difficulties in hiring foreign staff.
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