Davis Polk is advising affiliates of Kohlberg Kravis Roberts & Co. in connection with its $150 million investment into JBF Group that includes JBF Industries Limited and its international subsidiaries. The transaction is subject to customary closing conditions, including the receipt of shareholder approval and regulatory approvals from competition authorities. A portion of the proceeds will be used by KKR to acquire a 20% stake in JBF Industries Limited (JBF), an Indian public company whose shares are listed on the BSE Ltd. and the National Stock Exchange of India. The remaining proceeds will be invested in zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Pte. Ltd, an unlisted subsidiary of JBF in Singapore. KKR will primarily make its investment from the KKR Special Situations Fund II.

JBF is an Indian company with a global presence engaged in the production of products across the polyester value chain. JBF operates out of three facilities in India, and has three overseas facilities in Belgium, Bahrain and United Arab Emirates. KKR is a leading global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds.

The Davis Polk corporate team includes partners Kirtee Kapoor and Stephen Salmon, associate Rishab Kumar and law clerk Abhishek Kolay. Members of the Davis Polk team are based in the Northern California and Hong Kong offices.

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