KKR completes buyout of 60 per cent stake in REEL

HYDERABAD: KKR, the New York-headquartered private equity investment firm, said on Monday that it has completed purchase of 60% stake in Hyderabad-based Ramky Enviro Engineers Limited (REEL) for about $510 million under a deal announced in August 2018.

Under the deal, KKR had agreed to acquire 60% stake in the waste management firm via a combination of primary and secondary investments through its KKR Asian Fund III.

The deal was the first for KKR in the waste management segment and marked the largest buyout in India’s environmental services sector.


REEL is part of the Rs 4,500 crore Ramky group, which has interests in infrastructure, pharmaceuticals, real estate and waste management services.

In a statement on Monday, KKR said the investment was part of its global impact strategy which is focused on identifying and investing in businesses with positive social or environmental impact that measurably contribute solutions to one or more of the United Nations’ Sustainable Development Goals.