MUMBAI: US-based private equity fund Kohlberg Kravis Roberts and Co (KKR) is close to providing Rs 400 crore to Chennai-based Sanmar Group, which is battling to cut debt and resurrect its fortunes after delisting its main company from the bourses. The legendary buyout firm will give a Rs 400-crore loan to help ease the chemical maker’s cash position, a person close to the development said. “The group’s engineering business is doing well. The fund infusion will put the struggling chemical business back on the rails and help achieve long-term growth,” he added. K Rajendran, executive vice-president (corporate affairs), Sanmar Group, did not answer a set of questions on the subject, saying the group cannot comment due to confidentiality issues. KKR India CEO Sanjay Nayar declined comment. The deal is in the form of structured sponsored finance – a combination of fixed-income payments, some equity and cash. This kind of financing is usually referred to as ...