June 13, 2019 / 4:00 AM / 4 days ago

KKR to sell Korea-based KCFT to SK Group affiliate for $1 billion

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(Reuters) - U.S. private equity investor KKR & Co Inc said on Wednesday it is selling Korea-based KCF Technologies (KCFT) to SKC, an affiliate of South Korean conglomerate SK Group, for 1.19 trillion won ($1 billion).

KKR bought KCFT, which makes copper foils and flexible copper clad laminates used in lithium-ion batteries for electric vehicle applications, from its Asian Fund III in 2017.

Reporting by Sathvik N in Bengaluru; editing by Gopakumar Warrier

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