KKR delays preferred bidder selection for Korean and Japanese tank terminals

  • KKR continues reviewing bidders for South Korea’s CTK and Japan’s CTT.
  • The preferred bidder was initially expected within two to three weeks after last month’s final bids.
  • KKR is weighing separate sales against a bundled transaction, with notification expected around Chuseok.

Global private equity firm Kohlberg Kravis Roberts (KKR) has delayed selecting a preferred bidder for Central Terminal Korea (CTK) and Central Tank Terminal (CTT) after receiving proposals for separate and bundled acquisitions. KKR and sale manager Nomura Financial Investment are comparing price differences, funding capacity and the likelihood of completing each transaction. The preferred bidder had been expected within two to three weeks of last month’s final bids, but the review has extended. KKR is reportedly considering whether separate sales would maximize proceeds through asset-level competition, while a package deal could provide greater closing certainty. A plan for preferred bidders to assume existing loans with favorable terms is also under discussion, with notification expected around Chuseok.

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