By Toby Geoghegan
Clifford Chance has advised Indian waste management company Ramky on its acquisition of Australia’s Enviropacific Services, with EAC Partners and McCabes Lawyers advising the acquiree.
"Terms of the deal were not disclosed, but a person familiar with the matter said the initial amount and performance-based incentive payments totalled around A$45 million," the Wall Street Journal stated.
Ramky provides waste management, recycling and environmental services in India, Singapore, Indonesia, Vietnam, Thailand and the Middle East. Enviropacific provides environmental management and petrochemical services to energy, resources, petrochemical and government clients across Australia.
The Clifford Chance team was led by Sydney-based partner Richard Graham. "In addition to infrastructure and real estate, we continue to see strong interest from offshore investors in specialist sectors such as environmental remediation," said Graham in a statement. "Given it is estimated that over A$1billion is spent in Australia each year to clean up contaminated sites arising from industrial, agricultural or mining activity, it is hardly surprising that Ramky sees strategic opportunities in this market."
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