KKR-led consortium to acquire LCY

摘要

A consortium led by private equity firm KKR has signed an agreement to acquire LCY Chemical Corp. (Taipei, Taiwan) in a stock deal that values LCY at 47.8 billion Taiwanese dollars ($1.56 billion), the companies announced on Sunday. KKR is the leader of the consortium of investors that includes LCY’s employees, and family members of the company's founders. On completion, KKR will hold a majority and controlling interest in LCY. The investment will be made from KKR’s $9.3-billion Asian Fund III, raised in June 2016 and currently the biggest private equity fund for the region. Founded in 1965, LCY produces specialty chemicals and materials with a focus on thermoplastic elastomers and performance plastics, particularly styrene-butadiene-styrene (SBS) and hydrogenated SBS of which it is one of the leading producers worldwide.