At a crucial time in the development of the China waste water treatment industry, Paul, Weiss has advised Kohlberg Kravis Roberts & Co. L.P. (KKR) on an investment in a Chinese company that provides viable solutions to water shortage and pollution problems.
KKR China Water Investment Holdings Limited has entered into a definitive agreement with United Envirotech Limited (UEL), a leading water treatment and recycling solution provider in China, for a proposed issue of US$113.8 million in aggregate principal amount of convertible bonds due 2016. In addition to bringing in capital to support UEL’s growth in China’s fast-growing water industry, KKR’s global network, strong operational capabilities and extensive local knowledge will add significant value to UEL’s future development — enabling it to grow and cement its market leadership — and the overall improvement of the environment in China.
Paul, Weiss acted as international counsel to KKR on the transaction. The Paul, Weiss team included corporate partner John E. Lange and counsel Richard S. Elliott.
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