New York-based private equity firm KKR & Co. is working with an undisclosed financial adviser on finding potential suitors for Singapore-based intermediate bulk container provider Goodpack Ltd., which is worth at least US$2 billion, Bloomberg News reported, citing people with knowledge of the matter.
KKR, which paid approximately S$1.4 billion to buy Goodpack five years ago, could launch a formal sales process as soon as the end of 2019, the unnamed sources told the news outlet.
Industry rivals and other private equity firms have shown interest in Goodpack, Bloomberg added, citing one of the sources. KKR could still opt to keep Goodpack or postpone the sale plan, the sources told the news outlet.
A KKR representative declined to comment, while Bloomberg could not immediately obtain a comment on the matter from Goodpack.
As of May 31, US$1 was equivalent to S$1.38.