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KKR Sells CTT's Japan and Korea Businesses to Institutional Investors

KKR
  • KKR announced that funds it manages have entered separate agreements to sell Central Tank Terminal Co., Ltd. (CTT) in Japan & Central Terminal Korea Co., Ltd. (CTK) in Korea to institutional investors.
  • CTT operates 12 tank-storage terminals across Japan's key industrial regions, comprising more than 450 tanks with 420,000 kiloliters of capacity.
  • CTK operates a tank-terminal complex in Ulsan & grain-silo facilities in Ulsan & Pyeongtaek, serving chemical, energy, logistics, & agricultural customers.
  • KKR acquired CTT in 2021 & expanded into Korea via the acquisition of CTK in 2023.
  • During KKR's ownership, the businesses strengthened management teams, completed targeted bolt-on acquisitions in Japan, expanded terminal capacity, & invested in safety & maintenance practices.
  • CTT President & CEO Yasuka Miyakawa & CTK CEO Chansoo Kim thanked KKR for its support in strengthening capabilities & infrastructure.
  • KKR Partner Keith Kim stated the firm scaled critical chemical-storage & logistics infrastructure in high-barrier, demand-resilient markets.
  • KKR manages approximately US$119 billion in global infrastructure assets, with over US$20 billion in Japan & more than US$9 billion in Korea.
  • Financial terms of the transactions remain undisclosed, & completion is subject to customary closing conditions.
  • CTT was founded in 1966 & serves a diversified customer base across major Japanese cities including Kobe, Yokohama, & Osaka.
  • CTK serves Korea's chemical & agricultural supply chains through its Ulsan complex & its affiliate Taeyoung Grain Terminal Co., Ltd. in Pyeongtaek.