KKR invests in Tiranui Cement

Private equity powerhouse Kolberg Kravis Roberts & Co. (KKR) has made its first move into the PRC with an investment of $115 million in Tiranrui Cement Co., Ltd. It is the largest private equity investment in any private Chinese company thus far.

KKR has arranged debt and equity financing for the cement company and has organized a syndicate loan of US$335 million denominated both in Rmb and US dollars with JP Morgan.