KKR leads $450m financing for Chinese cement producer Tianrui CementUS private equity giant Kohlberg Kravis Roberts & Co. has bought a minority stake in Chinese cement producer Tianrui Group Cement Co. Titan Cement, an entity controlled by KKR, has completed a series of investments in the company with a total value of $115m.
In connection with KKR's investment, Tianrui Cement has also received investment commitments from the International Finance Corporation and an international banking syndicate led by JPMorgan for an additional $335m of USD and RMB long-term financing.
Tianrui Cement plans to use the capital to support its growth and expansion plans.
KKR partner David H Liu said, '[Tianrui Cement]'s strengths and competitive advantages in its target markets, augmented by its experienced and dedicated management team, are truly impressive. We are optimistic about the long-term growth prospects of China's cement industry and the enormous opportunity Tianrui Cement has to further grow and expand its business.'
Established in 1976, KKR has offices in New York, Menlo Park, San Francisco, London, Paris, Hong Kong, and Tokyo.
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Private Equity News» By Region» Asia» China
