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Petrochemicals

KKR makes another Asian purchase

by Alexander H. Tullo
September 7, 2018 | APPEARED IN VOLUME 96, ISSUE 36

 

The private equity firm KKR is acquiring the petrochemicals business of the Indian polyester producer JBF Industries. The main asset involved is a plant JBF is building in Mangalore, India, to make purified terephthalic acid, a polyester raw material. As part of the deal, KKR will assume $465 million in JBF debt. KKR has owned a 20% stake in JBF since 2015. In July, KKR inked an agreement to acquire the Taiwanese elastomer producer LCY Chemical for $1.5 billion.

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