Home / Knowledge / News / Textiles / KKR invests $150 million in Indian polyester major JBF
KKR invests $150 million in Indian polyester major JBF
01
Aug '15
American private investor KKR has agreed to invest $150 million (Rs 930 crore) in Mumbai-based polyester maker JBF Industries for a minority stake, it said in a press release.

A portion of the proceeds will be used by KKR to acquire a 20 per cent stake in JBF, listed on the BSE and NSE. The remaining proceeds will be invested into zero-coupon convertible preference shares with 14.5 per cent voting rights in JBF Global Pte. Limited, Singapore, an unlisted subsidiary. KKR will primarily make its investment from the KKR Special Situations Fund II.

JBF Group manufactures polyester value-chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries. JBF Group is one of the leading global players in the polyester segment, with six manufacturing facilities across India, Bahrain, Belgium and the United Arab Emirates.

“The funding provided by KKR will help JBF complete our ongoing projects. KKR's support will better enable JBF to grow our international presence and support the Make in India campaign,” said Bhagirath Arya, founder and executive chairman of JBF.

Sanjay Nayar, member and CEO of KKR India, said, “This type of investment into a world-class company such as JBF is a great example of how KKR can support Indian manufacturing companies providing value to global customers.”

“This is a great milestone for KKR as we make our first investment in India from our new Special Situations Fund,” added Nikhil Srivastava, a director at KKR and a member of the Special Situations team.

The transaction is subject to customary closing conditions, including the receipt of shareholder approval and regulatory approvals. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search