Keppel bought 80% of 800 Super through its infrastructure unit in 2022 in a deal valuing the Singaporean company at about $380 million at the time.

Keppel is considering selling its stake in 800 Super Holdings in a transaction that could value the waste management firm at as much as $600 million, people familiar with the matter said.

Keppel is working with a financial adviser on a divestment plan, the people said, asking not to be identified because the process is private. 

Keppel bought 80% of 800 Super through its infrastructure unit in 2022 in a deal valuing the Singaporean company at about $380 million at the time. The remaining 20% is owned by the company’s founding family. It isn’t clear if the founders will join Keppel in a potential sale, the people said. 

Deliberations are ongoing and Keppel may decide not to sell, the people said. 

“Keppel Asia Infrastructure Fund regularly reviews its business strategy and portfolio,” a Keppel spokesperson said, adding that the company will announce any material developments. A representative for 800 Super didn’t respond to a request for comment. 

800 Super provides waste management, waste treatment, cleaning and landscaping services to the public and private sectors, its website shows.

Keppel drops 2.16% at 10:37 am, Apr 11th.