Waste Management Mega Deal: I Squared-Veolia Leads Race for Re Sustainability
What Happened
A consortium of I Squared Capital and France’s Veolia has emerged as the frontrunner to acquire KKR-backed Re Sustainability Ltd (ReSL), India’s largest integrated waste management company. However, a valuation gap remains, with the consortium reportedly valuing the company at ₹10,000-11,000 crore, below KKR’s expectations of ₹14,000-16,000 crore.
Key Takeaways
The deal highlights growing investor interest in India's environmental and waste-management sector. If completed, it could become one of the country's largest sustainability-focused acquisitions and set a valuation benchmark for the environmental infrastructure industry.