Petrochemical company PT Chandra Asri Pacific (TPIA), together with global investment firm KKR, has announced a dedicated US$750 million (Rp12.53 trillion) financing solution to support the group’s growth strategy and its acquisition of Esso-branded fuel retail stations from ExxonMobil in Singapore.

In its disclosure to the Indonesia Stock Exchange (IDX), Chandra Asri Group CFO Andre Khor said the company was pleased to form a strategic partnership with KKR to back the Esso retail network acquisition.

“This collaboration reflects the strong confidence in Chandra Asri Group’s transformation journey and the quality of our expanding downstream energy platform,” he said as quoted by Antara on Monday, November 17, 2025. “This strategic partnership enables us to pursue growth objectives with prudent financial discipline while continuing to deliver reliable and sustainable energy solutions across the region.”

The investment is arranged by KKR Capital Markets and backed by KKR’s private credit and insurance platforms.

KKR Managing Director and Head of Asia Private Credit, SJ Lim, said the firm is proud to support Chandra Asri’s significant milestone.

“This transaction aligns with our focus on providing tailored financing solutions to leading companies in Asia Pacific, and we look forward to supporting Chandra Asri Group’s continued growth as it strengthens its presence in the downstream and retail energy sector in Singapore,” he said.

KKR’s investment was made through its Asia Pacific Credit strategy and insurance platform. Since 2019, KKR has allocated over US$8 billion across approximately 60 credit investments under this strategy, with total transaction volume exceeding US$21 billion.

Chandra Asri previously announced a sale and purchase agreement to acquire ExxonMobil’s Esso retail fuel network in Singapore. The acquisition will be executed through a special purpose vehicle under the company’s wholly owned subsidiary.

According to Chandra Asri Group President Director and CEO Erwin Ciputra, the acquisition aligns with the group’s long-term growth strategy focused on building integrated energy infrastructure for mobility and energy solutions across Singapore and Southeast Asia.

As of third quarter (Q3) 2025, the group recorded a net profit of US$1.65 billion (Rp27.51 trillion), a sharp turnaround from a US$58.5 million net loss in the same period last year.

Established in 1992, Chandra Asri Group is a leading energy, chemicals, and infrastructure solutions provider serving various Southeast Asian industries, including manufacturing, chemical trading, petrochemicals, synthetic rubber, and infrastructure asset management. In 2024, the group launched its strategic transformation to build an integrated energy infrastructure ecosystem to support key sectors across the region.