KKR to Invest in Chinese Lender
A consortium led by Kohlberg Kravis Roberts is expected to announce a $160 million investment in a Chinese lender to small and medium-size businesses, a report says.
NEW YORK (
) -- A consortium led by
Kohlberg Kravis Roberts
is expected to announce a $160 million investment in a Chinese lender to small and medium-size businesses, the
Wall Street Journal
reports.
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KKR, alongside sovereign wealth fund Government of Singapore Investment and Chinese investment bank China International Capital, has taken a 30% stake in International Far Eastern Leasing, which is backed by state-owned conglomerate
Sinochem
. Sinochem owns the remaining majority stake in the company.
KKR's portion of the investment is about $100 million, the
Journal
reports.
The deal is the third since the private-equity firm opened its Asia office in 2005 in China.
