Skip to main content

Simpson Thacher & Bartlett and Cyril Amarchand Mangaldas are advising private equity firm KKR on its acquisition of a 60 percent stake in Indian waste management company Ramky Enviro Engineers Limited (REEL), which was counselled by Link Legal India Law Services.

According to KKR, this is one of the biggest private equity buyouts in India, and the first private equity buyout in the country's environmental services sector. It is also being advised by WongPartnership on Singapore law and Simmons & Simmons on Middle East law.

REEL is India’s largest integrated waste management and recycling company with operations in India, Southeast Asia and the Middle East. The $530 million deal gives an enterprise value of $925 million, said Reuters.

Reuters added that the deal comes at a time when the country is focused on reducing pollution and improving sanitation infrastructure via its Swachh Bharat (Clean India) Mission. The main aim is to end open defecation by October 2019 by building individual and public toilets.

The Cyril Amarchand Mangaldas which acted for KKR was led by partners Reeba Chacko, Shishir Vayttaden and Vishak Abraham. Partner Ramanuj Kumar advised on certain regulatory aspects while partners Avaantika Kakkar and Bharat Budholia advised on the competition law aspects of the transaction.

Link Legal also advised the promoters on this deal.

KKR is a long-term client of Simpson Thacher. Just a month ago, the law firm advised a KKR-led consortium on its $1.56 billion acquisition of Taipei-listed LCY Chemical, and in April, it advised the private equity firm on its first-ever sale of yen bonds

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com

Related Articles

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.