05:23 AM EDT, 10/16/2024 (MT Newswires) -- (Updates with the company's response in the fourth paragraph.)

KKR & Co ( KKR ) will soon sell Singapore-based Goodpack in a deal that is expected to value the shipping containers and logistics services provider at about $1.8 billion, Reuters reported Wednesday, citing unnamed people with knowledge of the matter.

The company has hired Deutsche Bank and Rippledot for advice on the sale and a formal process will start in the coming weeks, the sources told Reuters.

This comes four years after the private equity giant first decided to put Goodpack up for sale, but its first attempt failed to materialize because of the COVID-19 pandemic, according to the report.

KKR declined MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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