SINGAPORE: KKR & Co is suspending its planned sale of Goodpack Ltd, a Singaporean provider of intermediate bulk containers, after bids fell short of expectations, according to people familiar with the matter.
The coronavirus outbreak has disrupted the sale, which was expected to fetch at least US$2bil, said the people, who asked not to be named as the information is private. Potential buyers have expressed difficulties in getting financing and offers were below what the New York-based buyout firm anticipated, the people said.