November 19, 2019 / 3:00 AM / 25 days ago

EXCLUSIVE-KKR taps CK Infrastructure, buyout groups as it seeks bids for Goodpack-sources

SINGAPORE, Nov 19 (Reuters) - KKR & Co. has tapped Hong Kong’s CK Infrastructure Holdings Ltd and buyout groups including Blackstone and Sweden’s EQT AB to gauge buying interest for Singapore-based Goodpack, an intermediate bulk container maker, multiple sources with knowledge of the matter said.

Working with advisors, private equity group (PE) KKR has reached out to more than a dozen potential buyers as it seeks bids for a deal that could give Goodpack a valuation of at least $2 billion, the sources said.

If successful, this would rank as one of the largest PE-backed sales in the past few years in Asia, excluding Japan and Australia, according to data from Refinitiv.

The names of the potential bidders have not been reported previously. The sources declined to be identified as they were not authorised to speak to the media.

KKR, EQT and Blackstone declined to comment, while there was no immediate response from CK Infrastructure.

“There are a lot of parties looking at this high-profile auction. This is not a small and cheap deal, so people are keen to do a lot of work on this one,” said one banker familiar with the sale process.

Indicative bids are due in early December, they said.

$1 = 1.3607 Singapore dollars Reporting by Anshuman Daga; Editing by Stephen Coates

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below