KKR is considering the sale of its 60 percent stake in Indian environmental services provider Ramky Enviro Engineers Ltd. (REEL), people familiar with the matter told Bloomberg. KKR has reportedly been in talks with prospective buyers, which include a Chinese company.
The consideration comes just over a year after KKR purchased the majority stake in REEL for about $510 million. Ayodhya Rami Reddy, founder of the company, holds the remaining 40 percent stake.
REEL is India’s largest environmental services company, managing 6 million tonnes per annum of municipal solid waste in 21 cities in India, and more than 1 million tonnes per annum of industrial hazardous waste, according to the company's website.
REEL also operates 18 industrial waste management facilities spanning more than 12 states across India and the Middle East, as well as five construction and demolition waste recycling facilities in India—all of which have become operational in the past
