BofA update shows where active managers are putting money
Investing.com-- U.S. private-equity firm I Squared Capital is leading the race to acquire KKR’s (NYSE:KKR) Singapore-based logistics firm Goodpack, in a deal that could value the company at up to $1.5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.
I Squared is currently conducting due diligence, with other bidders including Brookfield Asset Management (TSX:BAM) and Apollo Global Management (NYSE:APO), the report said.
A deal could be finalized by November, though there is no guarantee of completion, the WSJ reported.
Goodpack, acquired for over $1 billion by KKR in 2014 and delisted, provides reusable bulk containers for industries like chemicals, food, and automotive. Its services span more than 70 countries.
KKR has been actively rebalancing its portfolio, recently investing in India’s Manipal Group and selling its stake in J B Chemicals and Pharmaceuticals (NSE:JBCH).