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Santanol co-founder Tony Jack is critical of KKR. Photo: Attila Csaszar

Santanol dispute heads to court

A group of Western Australian investors has started legal action against US-based KKR, calling on the private equity giant to buy them out of Indian sandalwood producer Santanol Group at fair value or else have the business wound-up.

An application lodged with the Supreme Court of Western Australia has also called for an order setting aside two share issues that substantially increased KKR’s holding in Santanol Group.

In addition, the application seeks an order setting aside the appointment of receivers to Santanol Pty Ltd and Berg View III Pty Ltd.

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