Nov 17 (Reuters) - Indonesia's Chandra Asri Pacific
said on Monday it has secured a bespoke $750 million
financing package from investment firm KKR to support
its purchase of ExxonMobil's ( XOM ) Esso-branded retail fuel
station network in Singapore.
Late October, the Indonesian conglomerate said it planned to
retain the Esso branding, continue sourcing fuel from
ExxonMobil ( XOM ), and integrate the existing workforce into its
operations.
Until now, Chandra Asri had not revealed financial details
of the transaction, which includes nearly 60 fuel stations along
with associated supply agreements.
The financing solution will be arranged by KKR Capital
Markets and anchored by KKR's private credit and insurance
platforms, the investment firm said in a statement.
"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," said SJ Lim, managing director
and head of Asia private credit at KKR.
Shares of Chandra Asri were up 1.1% at 7,075 rupiah. The
stock has roughly lost around 6% so far this year, with the firm
having a market capitalization of $36.22 billion.