KKR & Co has placed a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services after the coronavirus pandemic struck valuations, sources with information on the matter stated Wednesday.
The private equity organization had received bids from a few coalitions after tapping more than a dozen potential buyers late last year, the sources stated, including that a deal could have valued Goodpack at around $2 billion.
The sources refused to be identified as the placing of the deal has not been made public. KKR declined to comment.
A successful deal would have ranked as one of the most massive private-equity-backed sales in Asia, excluding Japan and Australia for the earlier few years, according to data from Refinitiv.
KKR took over Goodpack for around S$1.4 billion ($985 million) in 2014 and delisted it from Singapore Exchange. Goodpack then modified senior administration, expanded into new markets reminiscent of meals and chemical compounds and build offices in Europe and the U.S.
Goodpack’s network is embedded in the supply network of many multinational companies, and its business is anticipated to weather any short-term fallout, the supply stated.
It caters to global clients in the rubber and automotive sectors with operations across 80 nations and about 5,000 delivery and collection points.
The coronavirus pandemic has pushed governments worldwide to put social distancing and other containment measures that have brought many companies to a near standstill.