Private equity giant KKR invested $150m for a minority share via preferential allotment in Mumbai-based polyester maker JBF Industries, reported the Economic Times.

Cyril Amarchand Mangaldas acted for KKR, with Mumbai based managing partner Cyril Shroff, Bangalore-based corporate partner Nivedita Rao and Mumbai-based corporate partner Ravi Kumar along with of counsel Usha Narayanan. Partner Nisha Uberoi advised on competition law aspects.

KKR international counsel were Davis Polk partner Kirtee Kapoor and the Wong Partnership in Singapore.

Crawford Bayley partner Sanjay Asher acted for JBF Industries.

KKR will get a preferential allotment for a 20 per cent stake in JBF and 14.5 per cent voting rights via zero coupon compulsorily convertible preferred shares in the company’s Singapore arm.