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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.
IL&FS sells environment arm to Eversource; pares total debt by Rs 1,200 cr business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
April 05, 2021
The deal covers 152.5 MW of assets
Mumbai-based Radiance Renewables Pvt Ltd, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF), has entered into an agreement to acquire Azure Power Global Ltd’s solar rooftop assets for ₹536.5 crore.
The assets are based in India, while the deal covers 152.5 MW of assets including 8.1 MW that is under construction and 18.5 MW that was recently commissioned.
Following this acquisition, Radiance will be able service high-quality customers such as Indian Railways, Delhi Metro Rail Corporation and Delhi Jal Board amongst others where 99 per cent of power purchase agreement are for 25 years.
“This strategic acquisition will position Radiance as a significant pan-India player in the commercial, industrial and institutional segments with exposure to long-term power purchase agreements with quality customers based on net metering in the build-out of its distributed generation platform. This transaction allows Radiance to b