Sembcorp clarified in a May 10 filing that it has not entered into any definitive agreements to sell its waste and recycling-management unit. The announcement followed a May 9 Reuters article naming KKR & Co., Macquarie Asset Management and I Squared Capital as potential bidders for SembWaste.
Sources with knowledge of the matter told Reuters the deal could value the unit at about $500 million, and as of May 10, shares of Sembcorp Industries had hit an eight-year high, according to The Business Times.
Sembcorp is a major environmental services provider in Singapore, focused on waste-management, public-cleaning and recycling services. Its waste-collection unit serves more than 440,000 households and 5,000 industrial and commercial customers, government agencies and healthcare establishments in Singapore, providing municipal, industrial and commercial, as well as construction and demolition waste collection.
Sembcorp has report