KKR Consortium Completes LCY Transaction Back to Press Releases

KKR Consortium Completes LCY Transaction

January 29, 2019

TAIPEI–(BUSINESS WIRE)– LCY Chemical Corp. (“LCY” or the “Company”) and global investment firm KKR today announced the completion of the previously announced share exchange and purchase transaction under which the KKR-led consortium has acquired all of the issued and outstanding shares of LCY, for TWD 56 per share in cash, adjusted to include a TWD 2.90 per share dividend (rounded to the nearest TWD 0.01) (ex-dividend offer price is TWD 53.10 per share), representing a total market capitalization of approximately TWD 47.8 billion (USD 1.56 billion).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190129005982/en/

As a result of the completion of the share exchange and purchase, LCY becomes a private company and was delisted from the Taiwan Stock Exchange.

TH Hong, Chairman of LCY, said, “We are thrilled to embark on the next stage of LCY’s growth by welcoming KKR as a long-term partner. KKR has a demonstrated track record of supporting the growth and success of companies globally and we want to leverage their expertise to accelerate our strategy and enable us to better anticipate and meet the evolving needs of our customers in Taiwan and worldwide.”

Paul Yang, Member and Head of KKR Greater China, added, “LCY is a truly differentiated, high-performing company in the field of petrochemicals, with a strong team that is dedicated to quality and innovation. We are excited to support LCY as a constructive partner to enhance the Company’s strategy and competitive strength by investing in its people and facilities in Taiwan and overseas.”

LCY will maintain its corporate headquarters in Taipei, its existing global distribution and sales networks and its production plants in Taiwan, mainland China and the United States. KKR made its investment from its Asian Fund III.

****

About LCY Chemical Corp.

Founded in 1965, LCY CHEMICAL CORP aims at improving the quality of life and has been in petrochemical business for more than 50 years. Product portfolios include methanol, solvents, electronic-grade chemicals, rubbers and performance plastics. For more details, visit LCY CHEMICAL CORP. website: http://www.lcygroup.com/lcy/en/.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

For LCY Chemical Corp.

Charles Wei
+886 2-2763-1611
+886 983-051-488
Charles.wei@lcygroup.com

James Kuo
+886 2-2763-1611
+886 900-797-195
James.kuo@lcygroup.com

Compass PR (For LCY Chemical Corp.)

June Kuo
+886 936-140-606
june.kuo@compasspr.com.tw

Olivia Hsieh
+886 912-429-786
olivia.hsieh@compasspr.com.tw

For KKR

KKR Asia
Anita Davis
+852 3602-7335
Anita.Davis@KKR.com

KKR Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com

Sard Verbinnen & Co. (For KKR Asia)
Miles Radcliffe-Trenner
+852 3842-2200
KKR-SVC@sardverb.com

Source: KKR


Download PDF

Back to Press Releases

Media Contacts

Americas

Kristi Huller
Miles Radcliffe-Trenner
Julia Kosygina
Telephone: +1 (212) 750-8300

Email: media@kkr.com

EMEA

Annabel Arthur
Telephone: +44 20 7839 9800

Email: kkrpr-uk@kkr.com

Asia-Pacific

Anita Davis
Wei Jun Ong
Telephone: +852 3602 7335

Email: media@kkr.com

Investor Relations

‍Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com

×

Listen to webcast

This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.

I understand  |   Go back
×

Listen to Presentation

Before viewing this presentation, please acknowledge your understanding that it has been prepared for KKR & Co. Inc. (NYSE:KKR) for the benefit of its public stockholders and is not intended to be a solicitation or sale of any of the securities, funds or services that it may discuss. Please click on "I understand" to view the presentation.

I understand  |   Go back