CVC DIF, the infrastructure arm of global private markets manager CVC, has agreed to acquire a 49.9 percent interest in ECO, a hazardous waste management company in Singapore. Seller Séché Environnement will retain a 50.1 percent share in the company. Financial terms were not disclosed.
This transaction marks CVC DIF's inaugural investment in Asia. The investment in ECO will be made through DIF Infrastructure VII, a closed-end infrastructure fund targeting high-quality, low-risk investments across Europe, North America and Australia. The fund closed in March at €4.4 billion ($5 billion).
With a strong focus on innovation and technology with regard to the circular economy, ECO serves a diversified customer base of industrial companies benefiting from long-term relationships, offering the broadest array of hazardous waste management services in Singapore. With a waste processing capacity of 649,000 tonnes per year, ECO operates 12 waste incinerators and four speciali
