KKR shelves divestment of Singapore-based intermediate bulk container maker, midst market turmoil from Wuhan Coronavirus

According to sources with knowledge of the matter at hand, KKR & Co. has temporarily paused a process to sell Singapore-based Goodpack, an intermediate bulk container maker, following the Wuhan Coronavirus outbreak which has significantly affected valuations for the proposed deal.

Earlier this year, the private equity group had received bids from a few consortiums after tapping more than a dozen potential buyers late last year for a deal that could value Goodpack at around $2 billion, said sources.

With the Wuhan coronavirus going pandemic, it took a toll on Goodpack’s sale process, said sources on the condition of anonymity since the deferral of the deal has yet to be made public.

KKR declined to comment.

According to data from Refinitiv, in the event the deal went through, it would have ranked as one of Asia’s largest PE-backed sales in the last few years, excluding Japan and Australia.

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