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KKR (NYSE:KKR) SELLS ITS ENTIRE STAKE IN KCF TECH

  • KKR’s stake sold to SKC for $1 billion
  • KCF doubled production capacities during KKR’s investment period

KKR & Co LP (NYSE:KKR), a global investment firm, said it sold a 100% stake in KCF Technologies to South Korean conglomerate SK Group’s (KRX:034730) affiliate, SKC for $1 billion.

“We are proud to have worked with the management team and employees of KCFT to meaningfully grow the business,” said Chung Ho Park and Hyoung Seok Lim, Managing Directors at KKR Korea, in a statement.

KCF produces parts for batteries for electric vehicle applications. It doubled its production capacities during KKR’s investment period.