Skip to content
Subscriber Only

Citic, KKR Offer S$1.2 Billion to Purchase United Envirotech

Updated on

Citic Ltd., the main listed unit of China’s biggest group of businesses, and KKR & Co. offered to buy United Envirotech Ltd. for S$1.2 billion ($930 million).

Citic and KKR will jointly bid S$1.65-a-share in cash and make a comparable offer for convertible bonds held by KKR in a transaction that values the Singapore-listed target at S$1.9 billion, according to a statement today. Hong Kong-based Citic will become the biggest shareholder of the company, a Chinese provider of water-treatment services, following the deal.