Private equity giant KKR is in an advanced stage of discussions to acquire Hyderabad-based waste management company Ramky Enviro Engineers Ltd, a financial daily reported.
According to The Economic Times, KKR has entered into an exclusive arrangement with the company and is discussing the final contours of the deal pegged at Rs 3,200 crore ($492.5 million).
Ramky Enviro had also received interest from private equity funds Brookfield, CDC and Blackstone, besides a few strategic investors from Japan, the report added.
The company is backed by private equity funds Standard Chartered IL&FS Asia Infrastructure Growth Fund and IL&FS PE.
Incorporated in 1994, Ramky Enviro Engineers is part of the Ayodhya Rami Reddy-led Ramky Group. The company provides waste management across categories, including hazardous, municipal, bio-medical and e-waste. It also recycles waste water, paper, plastic and integrated waste, according to the company website.
Ramky Enviro’s consolidated income stood at Rs 1,625.28 crore and profit after tax was at Rs 203.16 crore in the year through March 2017, according to VCCEdge, the data and analytics platform of News Corp VCCircle.
InterGlobe Enterprises Pvt. Ltd is looking to sell is technology business at an enterprise valuation of $400 million (Rs 2,600 crore), The Times of India reported.
Private equity firms Blackstone Group, Apax Partners and Partners Group, along with IT companies Mphasis and Zensar Technologies, are in the race to acquire InterGlobe Technologies, the report added.
Citing people aware of the development, TOI said InterGlobe Enterprises has given the mandate to Avendus Capital and BNP Paribas to conduct the sale process.
Incorporated in 1998, Gurugram-based InterGlobe Technologies provides integrated services and solutions to travel companies in the IT, BPO and consulting services.