HONG KONG (Reuters) – Private equity firm KKR & Co (KKR.N) said Monday it will acquire a 60 percent stake in India’s Ramky Enviro Engineers Ltd (REEL) for $530 million.
KKR will buy the stake via a combination of primary and secondary investments, in a deal that gives REEL an enterprise value of $925 million, it said.
REEL is a waste management and processing company. It also recycles paper, plastic and chemicals and focuses on renewable energy generation. It has over 60 locations across 20 Indian states, as well as businesses in Southeast Asia, Middle East and Africa.
Reporting by Kane Wu; Editing by Edwina Gibbs
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