KKR buys majority stake in Indian waste management company

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15.08.2018 − 

The investment firm KKR & Co. is taking over a controlling share of the Indian company Ramky Enviro Engineers Ltd. The New York-based KKR will acquire a 60 per cent stake in the waste management and environmental services provider for which it will pay around $530m. The combination of investments would put the enterprise value of the company at around $925m, KKR said.

Ramky Enviro Engineers is headquartered in Hyderabad and, according to KKR, has more than 60 locations in 20 Indian states and Southeast Asia, the Middle East and Africa. KKR said the buyout was one of the largest in India and "the first private equity buyout in the country's highly attractive environmental services sector". Ramky Enviro Engineers offered "critical services and infrastructure to reduce pollution and to address the needs of India's expanding urban population", said KKR India CEO Sanjay Nayar.

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