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KKR & Co received approval from Taiwan's Fair Trade Commission to acquire LCY Chemical Corp for NT$47.8 billion (US$1.55 billion). KKR will become the sole shareholder and enter a joint venture with the Lee family.
A consortium led by KKR & Co signed an agreement to acquire Taipei-listed LCY Chemical Corp in a stock deal valuing the firm at $1.56 billion. KKR will hold a majority and controlling interest upon completion.
KKR will acquire LCY Chemical (Lee Chang Yung Chemical Industry) for TWD 47.8 billion (USD 1.56 billion), paying TWD 56 per share. The transaction is expected to close in Q4 2018, after which LCY Chemical will be delisted from the Taiwan Stock Exchange.