KKR to Invest US$150 Million in India-based JBF Group(Asia)

Source: KKR, JBF Group

Global investment firm KKR has agreed to invest US$150 million in India-listed manufacturer of polyester value-chain products JBF Group. KKR will acquire a 20 percent stake in JBF, while the remaining proceeds will be invested in zero-coupon convertible preference shares with 14.5 percent voting rights in JBF’s unlisted subsidiary, JBF Global. The transaction will be primarily structured through KKR Special Situations Fund II. The company will use the new investment to complete its ongoing projects and grow its international presence. The transaction is subject to customary closing conditions, including shareholder and regulatory approval.