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Market Chatter: KKR to Gradually Exit TSMC Supplier LCY

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KKR is planning to gradually sell its stake in LCY Group, according to a report by Bloomberg, citing LCY chairman Bowei Lee.

The specialty chemicals maker, which counts TSMC (TPE:2330) and Intel as its clients, was acquired by KKR for around NT$47.8 billion in 2019, the report said.

Lee declined to disclose the identity of a potential buyer but revealed the exit will allow the company to pursue a more aggressive growth strategy, the report added.

The company has been seeking $874 million in loans for capital expenditure, the report noted, citing a person familiar with the matter.

LCY did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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