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India: Debt-ridden IL&FS sells environment business to EverSource


India: Debt-ridden IL&FS sells environment business to EverSource
Photo: Reuters
April 8, 2021
Beleagured infrastructure company IL&FS has sold its stake in environment business to EverEnviro Resource Management, a wholly owned subsidiary of Green Growth Equity Fund (GGEF), managed by EverSource Capital.
“The sale will reduce IL&FS overall debt by ₹1,200 crore which is the combined debt of entities under IL&FS’ environment businesses,” the company said in a statement today.
IL&FS, as the promoter of IL&FS Environmental Infrastructure and Services Ltd (IEISL), held 97.54% stake in the arm. The balance 2.46% was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management. ....

United Kingdom , Uttar Pradesh , Kanak Resources Management Ltd , Delhi Waste Processing Company Ltd , Department For International Development , Il Fs Employee Welfare , National Company Law Appellate Tribunal , Services Ltd , India National Investment , Swayam Swachatta Initiative Ltd , Dakshin Dilli Swachh Initiative Ltd , Il Fs Group , Infrastructure Fund , Everenviro Resource , East Delhi Waste Processing Company Ltd , Source Capital , National Investment , International Development , ஒன்றுபட்டது கிஂக்டம் , உத்தர் பிரதேஷ் , கனக் வளங்கள் மேலாண்மை லிமிடெட் , டெல்ஹி கழிவு ப்ரோஸெஸிஂக் நிறுவனம் லிமிடெட் , துறை க்கு சர்வதேச வளர்ச்சி , நான் L ஃப்ஸ் ஊழியர் நலன்புரி , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , சேவைகள் லிமிடெட் ,

IL&FS sells environment business to EverSource, reduces debt by Rs 1,200 crore


IL&FS sells environment business to EverSource, reduces debt by Rs 1,200 crore
ANI |
Updated: Apr 07, 2021 13:34 IST
Mumbai (Maharashtra) [India], Apr 7 (ANI): IL&FS has sold its stake in environment business to EverEnviro Resource Management, a 100 per cent owned subsidiary of Green Growth Equity Fund (GGEF) managed by EverSource Capital.
IL&FS, as the promoter of IL&FS Environmental Infrastructure and Services Ltd (IEISL), held 97.54 per cent of equity shares. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management.
The sale will reduce IL&FS overall debt by Rs 1,200 crore which is the combined debt of entities under IL&FS environment businesses, it said in a statement issued on Wednesday. ....

United Kingdom , Uttar Pradesh , Green Growth Equity Fund , Kanak Resources Management Ltd , Delhi Waste Processing Company Ltd , Department For International Development , Il Fs Employee Welfare , Services Ltd , India National Investment , National Company Law Tribunal , Swayam Swachatta Initiative Ltd , Dakshin Dilli Swachh Initiative Ltd , Il Fs Group , Infrastructure Fund , Everenviro Resource Management , Everenviro Resource , Dilli Swachh Initiative Ltd , Projects Lte , East Delhi Waste Processing Company Ltd , Source Capital , National Investment , International Development , ஒன்றுபட்டது கிஂக்டம் , உத்தர் பிரதேஷ் , பச்சை வளர்ச்சி பங்கு நிதி , கனக் வளங்கள் மேலாண்மை லிமிடெட் ,