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KKR acquires 60 per cent stake in India's Reel for £414.78 million

A multinational private firm, KKR & Co has said, it will acquire a 60 per cent share in India’s Ramky Enviro Engineers Ltd (REEL) for 414.78 million GBP ($530 million), making it as one of India’s largest buyouts.

KKR is expected to buy the stake via a combination of primary and secondary investments, in a deal that gives the waste management company an enterprise value of 723.56 million GBP ($925 million). The corporate giants reached the deal when India is on its mission to reduce pollution and improve sanitation facilities through its policies and programmes, Swachh Bharat Mission.


Sanjay Nayar, Member, CEO of KKR India, said, “We are excited to partner with REEL, the only comprehensive environmental management company offering end-to-end environmental and waste management services across India. REEL’s work uniquely supports the Swachh Bharat Mission, and our team is pleased to invest in the growth of a company that provides critical services and infrastructure to reduce pollution and address the needs of India’s expanding urban population.”

“REEL’s suite of comprehensive offerings includes the management, collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as the recycling of paper, plastic and chemicals. The Company also focuses on renewable energy generation – with a strong focus on waste-to-energy processes – and offers consulting and integrated environmental services. REEL has a presence in over 60 locations across 20 Indian states, as well as in certain Southeast Asian, Middle Eastern and African markets,” KKR & Co said in a release.

REEL also recycles paper, plastic, chemicals, and focuses on renewable energy production using waste materials. It operates 14 risky waste management facilities, 15 biomedical waste disposal plants, and over 28 municipal solid waste management plants in India. It has businesses in Southeast Asia, the Middle East, and Africa.

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