Global investment firm KKR said on Monday it has completed the earlier announced acquisition of a 60 per cent stake in Ramky Enviro Engineers Ltd (REEL) for about $510 million. The acquisition was via a combination of primary and secondary investments.

KKR had invested in REEL through its KKR Asian Fund III, the company said in a statement.

“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. REEL 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,” Rupen Jhaveri, Managing Director at KKR said.

In August 2018, KKR had announced its intent to acquire a 60 per cent stake in REEL, the first PE buyout deal in Indian environmental services sector.

rajesh.kurup@thehindu.com

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