KKR-backed Ramky Enviro Engineers (recently re-branded as Re Sustainability), the country’s leading environmental solutions and waste management player, has launched a proposed transaction to sell a controlling stake in the firm.
On April 17, 2020, Bloomberg had reported that KKR was weighing the sale of its stake and seeking buyers.
KKR announced the acquisition of a 60 percent stake in the firm in August 2018 for $530 million. Back then, it was the largest buyout by a PE fund in India’s environmental services sector. The investment was part of the private equity firm’s impact investing strategy, which refers to identifying businesses with positive social or environmental impact.
Read more: Money Control
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