Tuesday, Apr 23 2024 | Time 15:28 Hrs(IST)
image
Business EconomyPosted at: Feb 11 2019 6:51PM


KKR acquires 60 pc stake in Ramky Enviro

Hyderabad, Feb 11 (UNI) KKR, a Global investment firm has completed its acquisition of Ramky enviro engineers Limited (REEL), a leading provider of environmental services and solutions in the country, by acquiring 60 per cent stake in REEL for Rs 3630 crore through primary and secondary investments.
In addition to investing in Ramky Enviro from its KKR Asian Fund III, the investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind businesses with positive social or environmental impact that measurably contribute solutions to one or more of the United Nations Sustainable Development Goals.
In a statement here on Monday, REEL Managing Director and CEO, M. Goutham Reddy, said, “India is home to some of the world’s most pressing waste management needs, and Ramky Enviro has an important role to play in providing critical solutions to communities across the country.
Ramky Enviro will continue its socially impactful environmental work around Climate Change, and will focus on emerging markets with renewed vigour with this new partnership and investment, he said.
KKR Managing Director Rupen Jhaveri said “Supporting promising companies that offer solutions to global challenges in areas such as the environment, health and human capital has become an increasingly important focus for KKR worldwide.
Ramky Enviro is exemplary in being a comprehensive environmental management company whose work supports the Swachh Bharat (Clean India) Mission to reduce pollution and improve critical sanitation infrastructure nationwide.
We are confident that, with our industry experience and resources, REEL will be better positioned to achieve its social mission over the long term, he added.
KKR Global Impact Co-Heads Robert Antablin and Ken Mehlman, said, that we believe Ramky Enviro will address this critical need while advancing two of the United Nations Sustainable Development Goals.
The firm also has a history of investing in businesses that promote sustainable solutions to societal challenges and this experience of responsible investment combined with a changing landscape of global challenges led to KKR’s decision to create a dedicated Global Impact business in 2018, they added.
REEL currently operating waste treatment facilities in more than 60 locations across India, Singapore, the Middle East, and Africa.
The Company handles 3.5 million tons of municipal waste, 1 million tons of industrial waste, and caters to 20,000 healthcare establishments.
UNI KNR SHK1850
Please log in to get detailed story.
Tags: #KKR acquires 60 pc stake in Ramky Enviro
More News
Rupee rises 3 paise against USD

Rupee rises 3 paise against USD

23 Apr 2024 | 11:35 AM

Mumbai, Apr 23 (UNI) The rupee continued to rise on Tuesday too, as it advanced 3 paise to 83.34 in the opening session on the selling of US dollars by bankers and exporters, dealers at the Foreign Exchange said.

see more..
Sensex up 400 points

Sensex up 400 points

23 Apr 2024 | 11:35 AM

Mumbai, Apr 23 (UNI) Extending the rally for the third consecutive day, the BSE Sensex on Tuesday spurted 400 points to open at 74,048.94 as buying was seen across the board.

see more..
Air India and All Nippon Airways to begin codeshare partnership for travel between India and Japan

Air India and All Nippon Airways to begin codeshare partnership for travel between India and Japan

23 Apr 2024 | 11:19 AM

GURUGRAM, Apr 23 (UNI) Air India, India’s leading global airline, and All Nippon Airways, the largest Japanese carrier, have signed a codeshare agreement connecting their networks.

see more..

Major Currencies down

23 Apr 2024 | 10:29 AM

Mumbai, Apr 23 (UNI) Following were the indicative currency rates and travellers' cheques
buying and selling rates.

see more..

RINL-VSP seeks help from all stakeholders in resolving severe coal crisis

22 Apr 2024 | 8:28 PM

Visakhapatnam (Andhra Pradesh), April 22 (UNI) In the backdrop of a severe coal crisis due to the halt in operations at Adani Gangavaram Port Limited (AGPL), Rashtriya Ispat Nigam Limited (RINL), popularly known as Visakhapatnam Steel Plant (VSP), on Monday requested all citizens, stakeholders, contract workers, and people's representatives to come together and assist the plant in resolving the coal crisis.

see more..
image