IL&FS sells waste management business to Everstone arm; to reduce Rs 1,200 crore debt
The crippled IL&FS - which is under bankruptcy proceedings in NCLT - said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group s environment businesses
PTI | April 8, 2021 | Updated 10:22 IST
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements.
Though the value of the deal was not specifically disclosed, the crippled IL&FS - which is under bankruptcy proceedings in NCLT - said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group s environment businesses.
EverEnviro acquires IL&FS Environmental Infrastructure & Services Ltd
April 07, 2021
The financial terms of the deal were not disclosed
EverEnviro Resource Management Pvt Ltd, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF), has acquired the entire stake of integrated waste management company, IL&FS Environmental Infrastructure & Services Ltd (IEISL). The financial terms of the deal were not disclosed.
This deal, one of the largest in municipal solid waste management (MSW) in India, also includes the assets of IEISL’s subsidiaries RDF Power Projects Ltd (RDFPPL), East Delhi Waste Processing Company Ltd (EDWPCL), Swayam Swachatta Initiative Ltd (SSIL), Dakshin Dilli Swachh Initiatives Ltd (DDSIL) and Kanak Resources Management Ltd (KRML), the company said in a statement.
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