kkr-closes-tianrui-cement-financing

KKR closes Tianrui Cement financing

The US private equity firm buys a minority stake in the Chinese cement company and assists Tianrui to raise a renminbi-denominated loan.
In a pioneering deal, private equity firm Kolberg Kravis Roberts KKR has closed a $115 million investment in Tianrui Cement and has also helped Tianrui to raise a pre-dominantly renminbi-denominated loan worth $335 million.

In its first deal in China, KKR will buy a minority stake in Tianrui Cement through the investment vehicle Titan Cement for a total of $115 million. KKR has not released details of the stake, but sources close to the deal say that it is in ôthe upper end of minority holdings, namely a significant stakeö. The media has speculated that the stake is around 43%. KKR will also get board representation proportionate to its holding.

Simultaneously, International Finance Corporation will...
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