By Megan Cheah
Private equity firm KKR will provide $750 million in financing to an Indonesian conglomerate for acquiring ExxonMobil's retail fuel stations in Singapore.
The bespoke funding to Chandra Asri Group will allow the Indonesian company to operate the U.S. oil and gas company's Esso-branded fuel stations in the city-state, KKR said Monday.
The funding, arranged by KKR Capital Markets, will be anchored by the firm's private credit and insurance platforms.
Jakarta-based Chandra Asri Group is an energy, chemical, and infrastructure solutions provider with assets in Indonesia and Singapore. It owns Southeast Asia's largest integrated petrochemical complex, according to its website.
The deal aligns with KKR's focus on providing tailored capital solutions to leading companies across Asia Pacific, said SJ Lim, managing director and head of Asia private credit at KKR.
"We look forward to supporting Chandra Asri's continued growth as it strengthens its downstream energy and retail presence in Singapore," he added.
"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," said Andre Khor, Chandra Asri's chief financial officer.
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.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
11-16-25 2133ET
