23 Mar 2015
S$1.9 Billion Voluntary Conditional Offer for United Envirotech Ltd
Danny Lim and Bernia Tan from the Capital Markets / Mergers & Acquisitions Practice acted for CITIC Limited and its affiliates ("CITIC") and CKM (Cayman) Company Limited (the "Offeror") in the approximately S$1.9 billion voluntary conditional offer for United Envirotech Ltd. (the “Offer”). The Offeror is a consortium vehicle between CITIC and Kohlberg Kravis Roberts & Co. L.P. ("KKR"). The CITIC group is the largest conglomerate in the PRC and its businesses include financial services, resources and energy, manufacturing, real estate and infrastructure, engineering contracting, and other businesses in the People's Republic of China ("PRC") and overseas.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. United Envirotech Ltd. (now known as CITIC Envirotech Ltd.) is listed on the Main Board of the Singapore Exchange Securities Trading Limited and is a leading membrane-based water and wastewater treatment and recycling solutions provider with businesses mainly in the PRC's chemical, petrochemical and industrial park sectors.