13 Nov 2014

S$1.9 Billion Pre-conditional Voluntary Offer for United Envirotech Ltd.

Danny Lim, Soh Chai Lih, Bernia Tan and Cynthia Wu from the Corporate & Capital Markets Practice acted for CITIC Limited ("CITIC") and (as joint counsel) CKM (Cayman) Company Limited ("Offeror") in the approximately S$1.9 billion pre-conditional voluntary offer for United Envirotech Ltd.. The Offeror is a consortium vehicle between CITIC and Kohlberg Kravis Roberts & Co. L.P. ("KKR"). CITIC group is the PRC's largest state-owned conglomerate with over 120,000 employees, and businesses including financial services, resources and energy, manufacturing, real estate and infrastructure, and engineering contracting. 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 is listed on the Main Board of the Singapore Exchange Securities Trading Limited and a leading membrance-based water and waste-water treatment and reclamation solution provider with businesses mainly in the PRC's chemical, petrochemical and industrial park sectors.