Sembcorp Industries (SCI) recently announced that its wholly-owned subsidiary, Sembcorp Environment, has agreed to divest its entire stake in Sembcorp Enviro (India) to Ramky International (Singapore) for $7.25 million.
Sembcorp Enviro (India) is a special purpose vehicle that owns a 51 per cent stake in SembRamky Environmental Management, a medical waste collection and treatment player in India.
The divestment is in line with SCI's efforts to streamline its businesses and sharpen its strategy for the India market.
Completion of the divestment is expected to take place by year end.
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