PT Chandra Asri Pacific Tbk has tapped Global Atlantic to help finance its planned $1-billion purchase of Esso-branded fuel stations in Singapore from Exxon Mobil Corp, while Indonesian snack brand firm PT Sari Murni Abadi has acquired Vietnam’s Bibica Corporation.
Global Atlantic to back Chandra Asri’s $1b Esso station purchase
PT Chandra Asri Pacific Tbk has tapped KKR’s insurance arm, Global Atlantic, to help finance its planned $1-billion purchase of Esso-branded fuel stations in Singapore from Exxon Mobil Corp.
According to a Bloomberg report, Global Atlantic is set to extend a $750-million unitranche loan at a single-digit interest rate. Chandra Asri will contribute the remaining $250 million from its own capital, they added.
Spokespersons for Chandra Asri, Global Atlantic, and KKR did not respond to requests for comment.
Global Atlantic secured the financing mandate after surpassing another lender group that had been competing for the deal. Chandra Asri had earlier explored a senior loan of up to $600 million from banks, paired with about $250 million in mezzanine financing from institutional investors, including the Indonesia Investment Authority (INA), Allianz Global Investors, and Ares Management Corp., Bloomberg previously reported.
Chandra Asri said last month that the acquisition agreement was signed through a special purpose vehicle under a wholly owned subsidiary. The deal is awaiting regulatory clearance, with the company aiming to close it by the end of the year.
Sari Murni acquires Vietnam’s Bibica Corporation
Indonesian snack brand firm PT Sari Murni Abadi (SMA) has announced its global expansion strategy through the acquisition of Vietnam’s Bibica Corporation, a leading confectionery manufacturer previously under the umbrella of PAN Group.
Under the agreement, SMA and PAN Group will cooperate to tap into the confectionery market in Vietnam and beyond. The partnership will enable SMA to extend its product portfolio into biscuits, cakes, and candies—areas where PAN Group holds a strong presence—and to leverage PAN Group’s manufacturing and distribution infrastructure.
SMA’s chief financial officer, Servin, said the move underscores the company’s commitment to deliver high-quality consumer products and to bolster its international footprint. She added that the alliance is designed to enhance the two parties’ research & development capabilities, enabling the creation of regionally and globally tailored innovations.
Servin emphasised that the strategic investment will expand SMA’s reach beyond its core snack segment and cement its role as a regional player in the Southeast Asia consumer-goods industry. She expressed confidence that the joint effort will drive cross-border efficiency in production and distribution, supporting sustainable growth.
SMA is a national snack producer of well-known brands such as Momogi, Criscito, Yale-Yale and Migi-Migi, with manufacturing sites in West and East Java. PAN Group, via its affiliate Bibica Corporation in Vietnam, has a modern manufacturing base in Long An and Hanoi and a distribution network covering more than 100,000 retail outlets, with exports to Japan, South Korea and the United States.
