SINGAPORE (Oct 30): Keppel Infrastructure Trust (KIT) is reportedly named the official preferred bidder for IXOM, Blackstone’s Australian chemicals business formerly owned by multinational corporation Orica.

According to the Australian Financial Review, a recent JPMorgan auction sealed the deal, which is expected to rack up some A$1 billion ($1 billion).

Potential buyers at the auction were told IXOM would make A$139 million in EBITDA the next financial year to continue the 5.1% per-annum growth since Blackstone acquired the asset in 2015.

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