KKR-led group acquires Taiwan's LCY Chemical Corp for $1.5 billion

The transaction is KKR's second in Taiwan since it purchased $230 million of convertible bonds in Yageo in 2007

KKR & Co said it is taking over Taiwanese company LCY Chemical Corp in a deal valued at NT$47.8 billion ($1.56 billion), as the global buyout firm seeks to make additional majority stakes purchases in Greater China.

A consortium led by New York-based KKR agreed to acquire all of LCY’s shares for NT$56 each, a 17.3 per cent premium to Friday’s close, according to a press release. The transaction is expected to close in the fourth quarter, subject to regulatory approvals. LCY will be delisted after the deal, the release said.

The transaction is KKR’s second in Taiwan since it purchased $230