Private equity giant KKR is set to acquire 60 percent stake Hyderabad-based waste management company Ramky Enviro Engineers Ltd for around $600 million (Rs 4,000 crore), The Economic Times reported, citing people in the know.
Ramky’s promoters and its existing private equity investors—Standard Chartered IL&FS Asia Infrastructure Growth Fund and IL&FS PE—will be selling their stakes to KKR, the ET report added.
Ramky has mandated investment bank Barclays to manage the sale, according to the report.
The company had received interest from private equity funds Brookfield, CDC and Blackstone, the report added.
Incorporated in 1994, Ramky Enviro Engineers is part of Ayodhya Rami Reddy-led Ramky Group.
The company provides waste management across categories including hazardous, municipal, bio-medical and e-waste.
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