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Petrochemicals
KKR makes another Asian purchase
by Alexander H. Tullo
September 7, 2018
| A version of this story 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.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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