Financing will support the acquisition of ExxonMobil’s Esso retail fuel station network in Singapore
SINGAPORE–(BUSINESS WIRE)–KKR, a leading global investment firm, and Chandra Asri Group (or the “Group”), a leading provider of energy, chemical, and infrastructure solutions in Southeast Asia, today announced a $750-million bespoke financing solution arranged by KKR Capital Markets and anchored by KKR’s private credit and insurance platforms to Chandra Asri Group. The investment will support the Group’s growth strategy and its acquisition of Esso-branded retail fuel station network from ExxonMobil in Singapore.
Established in 1992, Chandra Asri Group is a leading provider of critical energy, chemical, and infrastructure solutions to companies across Southeast Asia. The Group serves diverse industries, including manufacturing, the trading of chemicals, petrochemicals, and synthetic rubber, as well as the management of infrastructure assets. In 2024, the Group embarked on a strategic transformation to build a connected energy infrastructure ecosystem and provide fundamental support to strategic sectors across the region. The Group’s acquisition of ExxonMobil’s Esso-branded retail fuel station network in Singapore is a key part of this strategy.
KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs, promoters and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally.
Andre Khor, Chief Financial Officer of Chandra Asri Group, said, “We are pleased to strategically partner with KKR in supporting our acquisition of ExxonMobil’s Esso-branded retail network in Singapore. Our collaboration with a leading global investment firm reinforces strong confidence in Chandra Asri’s transformation journey and the quality of our expanding downstream energy platform. This strategic partnership enables us to pursue our growth objectives with prudent financial discipline, while continuing to deliver reliable and sustainable energy solutions across the region.”
SJ Lim, Managing Director and Head of Asia Private Credit at KKR, added, “We are proud to support Chandra Asri Group on this important milestone. This transaction aligns with our focus on providing tailored capital solutions to leading companies across Asia Pacific, and we look forward to supporting Chandra Asri’s continued growth as it strengthens its downstream energy and retail presence in Singapore.”
KKR is making its investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, KKR has committed more than $8 billion across around 60 credit investments under its Asia Pacific Credit strategy, accounting for a total transaction volume of more than $21 billion.
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About Chandra Asri Group
Chandra Asri Group is a leading provider of energy, chemical, and infrastructure solutions in Southeast Asia, supplying products and services to various manufacturing industries in both domestic and international markets. Since the Group’s establishment in 1992, Chandra Asri has grown from strength to build our reputation as a reliable growth partner, with strategically well positioned assets in Indonesia and Singapore. The Group’s asset base includes a refinery with a capacity of 237,000 barrels per day alongside a 1.1 million metric ton per annum ethylene cracker on Bukom Island, 2.5 million metric ton per annum downstream chemicals on Jurong Island and Indonesia’s one and only naphtha cracker located in Cilegon with a capacity of 0.9 million metric ton per annum. The Company’s business is supported by core infrastructure assets, including energy, water, ports & storage, and logistics. For more information, visit www.chandra-asri.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
For more information, please contact:
Chandra Asri
Chrysanthi Tarigan
Head of Corporate Communications
Telp: 021-530 7950
Email: corporate.comm@capcx.com
KKR
Wei Jun Ong
+65 6922 5813
