SINGAPORE's Sembcorp Industries Ltd said on Monday that it had commenced a process for a possible divestment of its waste management business and its energy from waste plant.
The company, however, added in a statement that there was no certainty that the transaction would materialise.
Reuters had earlier reported, citing sources that U.S. private equity group KKR & Co Inc and Australia's Macquarie Asset Management were among the potential bidders for SembWaste, in a deal which could value the unit at $500 million.
The company, which is owned by Singapore's state investor Temasek Holdings, has hired HSBC as its financial advisor and preliminary discussions with selected parties had begun.
Sembcorp, Macquarie and KKR did not immediately respond to Reuters' requests for comment. - Reuters
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