KKR To Sell KCF Technologies To SKC For $1B

KKR & Co Inc KKR announced it will sell KCF Technologies to SK Group affiliate SKC for $1 billion.

KCFT produces copper foils and flexible copper clad laminates predominantly used in li-ion batteries for electric vehicle applications.

"We are proud to have worked with the management team and employees of KCFT to meaningfully grow the business and solidify the company's technological leadership over the past several years,” Chung Ho Park and Hyoung Seok Lim, Managing Directors at KKR Korea, said in a press release.

KKR made its investment in KCFT from its Asian Fund III. Further details of the transaction have not been disclosed.

KKR closed Wednesday's session at $24.10 per share.