KKR invests $150 mn in JBF Group

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Mumbai | Published: August 1, 2015 12:28:37 AM

Leading polyester manufacturer JBF Group said global investment firm KKR has invested $150 million in the company.

Leading polyester manufacturer JBF Group said global investment firm KKR has invested $150 million in the company.

“A portion of the proceeds will be to acquire a 20% stake in JBF. The remaining proceeds will be invested into zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Singapore, an unlisted subsidiary,” it said in a statement.

Sanjay Nayar, the member and chief executive at KKR India, said, “This type of investment is a great example of how KKR can support Indian manufacturing companies providing value to global customers.”

KKR said it will primarily make this investment from the KKR Special Situations Fund II. This investment also marks KKR’s first investment in India from its Special Situations Fund.

JBF Group manufactures polyester value chain products which are used in the FMCG, textile, and packaging industries. JBF Group has six manufacturing facilities across India, Bahrain, Belgium, and UAE.

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