KKR To Back India Liquid Storage Platform
(RTTNews) - Global investment firm KKR & Co. Inc. (KKR) announced on Tuesday that its funds will make a majority investment in Cisternina Logistics Pvt Ltd., a bulk liquid and gas storage and logistics company in India. Financial terms of the deal were not disclosed.
KKR said the investment will support Cisternina's proposed purchase of the liquid storage terminal and rail business of Ganesh Benzoplast Ltd, which will serve as the platform's anchor asset, and fund further acquisitions and new infrastructure development across India.
The deal is being made through KKR's Asia Pacific infrastructure strategy and is subject to customary approvals.
On the NYSE, shares of KKR are currently losing 0.68 percent, changing hands at $92.61.
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