EQUITIES: Buyout Bid Likely To End KNM's US$350m EB Plans
KNM’s long-delayed proposed US$350m exchangeable bond now looks unlikely to happen. The founder Lee Swee Eng, together with Goldman Sachs’ GS Capital Partners VI Fund, has made a M$3.6bn (US$1bn) bid to take the company private. Proceeds from the proposed CB, which was pushed back by more than a year due to tough market conditions, were intended to be used to refinance a bridging loan for the company’s acquisition of Borsig. KNM makes equipment for the oil, gas, petrochemical and mineral processing industries.
This content is for Subscribers only
To access full IFRAsia.com story content you must be a subscriber. However, if you are not a subscriber and would like trial access to IFRAsia.com, please register here.