KKR to acquire majority stake in LEAP India, terms undisclosed

KKR and LEAP India announced the signing of definitive agreements under which funds managed by KKR will acquire a majority stake in the company. KKR is making this investment as part of its Asia infrastructure strategy. The acquisition of LEAP marks KKR’s latest infrastructure investment in India. Past transactions in the sector by KKR have included Serentica Renewables, a decarbonization platform that seeks to provide complex clean energy solutions for energy-intensive, hard-to-abate industries; Hero Future Energies, a leading independent power producer and the renewable energy arm of the Hero Group; Highways Infrastructure Trust, a roads infrastructure investment trust (InvIT); Virescent Infrastructure, a renewable energy platform in India; and IndiGrid, a leading infrastructure InvIT. The transaction is expected to be completed by Q3 2023, subject to customary pre-closing and closing conditions. Additional details of the transaction are not disclosed.