IL&FS’s environment business likely to be sold to EverSource Capital

Reportedly, EverSource Capital is set to take over IL&FS Environmental Infrastructure and Services Limited (IEISL) and its subsidiaries, as it has emerged the highest bidder for them. The deal is likely to reduce the debt of the IL&FS Group by close to Rs 15 billion, which is the combined debt of the entities under IL&FS’s environment businesses. EverSource Capital is the highest bidder for IEISL and its subsidiaries – RDF Power Projects Limited, East Delhi Waste Processing Company Limited, Swayam Swachatta Initiative Limited and Dakshin Dilli Swachh Initiatives Limited. While the deal is acceptable to the lenders, they will have to take a haircut of over 50 per cent.

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