Kohlberg Kravis Roberts (KKR), the buy-out giant, took advice from UBS and Morgan Stanley to win the race to buy MTU Aero Engines from Daimler Chrysler for an estimated €1.5bn ($1.8bn).

It has lined up JP Morgan, which was advising Daimler Chrysler on the disposal, Credit Suisse First Boston and Commerzbank to provide debt financing for the deal.