KKR takes 10.44% stake in Japfa's Indonesian unit for US$80m

Singapore

US private equity firm KKR is ploughing some US$80 million to take a 10.44 per cent stake in Japfa Ltd's Indonesian subsidiary, its first direct investment in the country.

PT Japfa Comfeed Indonesia Tbk (PT Japfa Tbk), which manufactures animal feed and breeds and processes chicken, will issue 750 million new shares to KKR under a private placement at about US$52.9 million, or 935.6 rupiah per share.

At the same time, Singapore-listed Japfa will sell 441.7 …