KKR Nears Deal for Chinese Lender

(Reuters) – A Kohlberg Kravis Roberts & Co.-led consortium is near a deal to invest between $150 million and $200 million in International Far Eastern Leasing Co, a Chinese lender to small and medium-size businesses, the Wall Street Journal said, citing people familiar with the matter.

Private equity firm KKR is investing in the deal along with sovereign-wealth fund Government of Singapore Investment Corp (GIC) and Chinese investment bank China International Capital Corp (CICC), the people told the paper.

The consortium wants to buy a minority stake in the range of 30 percent of the financial leasing firm controlled by Chinese state-owned conglomerate Sinochem Group Corp, according to the paper.

The deal could be made final in coming weeks, the paper said, adding that terms could still change or the deal could fall apart.

GIC declined to comment on the report, while KKR and CICC could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)