KKR to expand Korea waste management portfolio to sewage treatment
Ri-ahn Kim and Jun Ho Cha
Aug 27, 2020 (Gmt+09:00)
KKR & Co. is set to acquire a non-controlling stake in a South Korean sewage management company in a deal worth up to 200 billion won ($170 million), on the heels of its 875 billion won purchase of two Korean waste treatment companies last week.
The US private equity firm will soon sign a share purchase agreement with SK Engineering & Construction Co. Ltd. to buy a 16.7% stake in TSK Corporation, according to investment banking sources on August 27.
The stake up for sale is worth between 160 billion won and 200 billion won ($135 million and $170 million), they said.
SK Engineering is the second-largest shareholder in the sewage and wastewater treatment company, after Taeyoung Engineering & Construction Co. Ltd. with 62.61%.