Exclusive: KKR shelves $2 billion sale of Singapore-based Goodpack due to market slump: sources

📆 4/1/2020 10:10 AM
📰 Reuters

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EXCLUSIVE: KKR shelves $2 billion sale of Singapore-based Goodpack due to market slump: sources by anshumandaga

) has shelved a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services, after the coronavirus outbreak hit valuations, sources with knowledge of the matter said on Wednesday.

“Till about six weeks ago, bidders were interested and a deal looked likely but there’s a lot of uncertainty in the current environment,” said one of the sources. KKR acquired Goodpack for about S$1.4 billion in 2014 and delisted it from Singapore Exchange. Goodpack then changed senior management, expanded into new markets such as food and chemicals and set up offices in Europe and the United States.

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