KKR is to finance the Indonesian-owned Chandra Asri Group in its US$750m (€647m) purchase of an Esso-branded retail fuel station network from ExxonMobil in Singapore. The total loan amount was not disclosed.
Established in 1992, Chandra Asri Group is a leading provider of critical energy, chemical, and infrastructure solutions to companies across Southeast Asia. The group’s acquisition of ExxonMobil’s Esso-branded retail fuel station network in Singapore is a key part of this strategy to expand its operations in the region.
Andre Khor, chief financial officer of Chandra Asri Group, said: “We are pleased to strategically partner with KKR in supporting our acquisition of ExxonMobil’s Esso-branded retail network in Singapore.
“Our collaboration with a leading global investment firm reinforces strong confidence in Chandra Asri’s transformation journey and the quality of our expanding downstream energy platform. This strategic partnership enables us to pursue our growth objectives with prudent financial discipline, while continuing to deliver reliable and sustainable energy solutions across the region.”
SJ Lim, managing director and head of Asia private credit at KKR, said: “This transaction aligns with our focus on providing tailored capital solutions to leading companies across Asia Pacific, and we look forward to supporting Chandra Asri’s continued growth as it strengthens its downstream energy and retail presence in Singapore.”
Since 2019, KKR has committed more than $US8bn across around 60 credit investments under its Asia Pacific Credit strategy, accounting for a total transaction volume of more than $US21bn.
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