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KKR In Ramky Enviro Engineers Deal

KKR is to acquire a 60% stake in Ramky Enviro Engineers Limited, a provider of environmental services and solutions in India and overseas, for approximately US$530 million via a combination of primary and secondary investments valuing the Company at an enterprise value of US$925 million. KKR’s investment in REEL marks one of the largest buyouts in India, in addition to being the first private equity buyout in the country’s highly attractive environmental services sector. The deal comes as Prime Minister Narendra Modi’s administration enhances its focus on environmental management through the Swachh Bharat (Clean India) Mission, an initiative to reduce pollution and improve...