KKR buys a majority stake in Cisternina to expand in India

Funds managed by KKR have signed definitive agreements to acquire a majority stake in Cisternina Logistics Private Limited, an Indian bulk liquid and gas storage platform founded in 2024. The investment is being made through KKR's Asia Pacific infrastructure strategy. Financial terms of the transaction were not disclosed.

The capital will support Cisternina's proposed acquisition of the liquid storage terminal and rail business of Ganesh Benzoplast Limited (GBL), which will serve as the platform's anchor asset. GBL operates roughly 500,000 kiloliters of operating and under-construction storage capacity across key Indian ports, including JNPT, Cochin, and Goa. The business established its tank operations at Jawaharlal Nehru Port in the early 1990s.

Cisternina targets sectors such as chemicals, edible oils, bulk liquids, and liquefied gases including LNG, CNG, and LPG. Through acquisitions and development projects, Cisternina aims to build a network of approximately 1.5 million kiloliters of static tank capacity, supported by memoranda of understanding signed with Chennai Port, Goa Port, and Cochin Port.

The transaction remains subject to customary closing conditions and regulatory approvals. Cisternina was founded by Amit Saboo, Kartik Deuskar, and Puneet Kedia. India's coastal infrastructure handles about 95% of the country's external trade by volume.