KKR eyes MMI exit to SGX - reports
Kohlberg Kravis Roberts & Co. (KKR) is reportedly looking to exit its wholly owned, Singapore-based engineering firm MMI Holdings via an IPO onto the Singapore Exchange.
According to a Reuters report, the relisting process could be worth S$1 billion ($786 million), compared with the acquisition price of S$1.01 billion (then $700 million) in July 2007. At the time, KKR had taken the company private. Deutsche Bank, Macquarie Group and UBS are managing the listing, the report added.
Launched in 1989, MMI was listed on the Singapore Exchange's Main Board from 1997 to KKR's acquisition, and claimed to achieve 22% CAGR for revenue over that decade, with $550 million revenue in 2007. The company is an electro-mechanical contract manufacturer, providing services to the aerospace, data storage, oil & gas, and industrial equipment sectors. It has facilities in Singapore, Malaysia, Thailand and China.
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