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KKR Makes Follow-on Investment in United Envirotech Limited
- Client News
- January 11, 2013
Practices
Paul, Weiss client KKR has entered into a definitive agreement with Singapore-listed United Envirotech Limited (UEL), a leading water treatment and recycling solution provider in China, for a $40 million common equity investment. The proceeds of the investment will be used to fund the acquisition of UEL's water treatment plants, as well as upgrading the existing plants and working capital. The investment is expected to conclude by March 2013 and is subject to customary conditions, including approval from UEL's shareholders.
In October 2011, Paul, Weiss also advised KKR on the subscription of $113.8 million convertible bonds issued by UEL to support the company's business expansion.
The Paul, Weiss team advising KKR included corporate partner John Lange.