KKR to invest $150 mln in JBF Group

KKR has agreed to invest $150 million into JBF Group, which owns JBF Industries Ltd. A portion of the $150 million will be used by KKR to buy a 20 percent stake in JBF, which is traded on BSE Ltd and the National Stock Exchange of India. KKR will use the remaining proceeds to buy zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Pte. Limited, Singapore, an unlisted subsidiary. Mumbai-based JBF makes polyester value-chain products. Fortune Financial & Equities Services Pvt. Ltd advised JBF.

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