LX International to acquire 63.3% of Poseung Green Power for KRW 95bn
- Deal value
- $66m
- Stake
- 63.3%
- Implied 100%
- $104m
- Revenue
- $40m
- Op. income
- $10m
- Multiples
- EQV/EBIT 10.4xPSR 2.6x
Deal value ÷ stake (structure unconfirmed)
2021 별도 · DART-verified
2021 별도 · DART-verified
On implied equity value
DART 20220324000110
- Target
- Poseung Green Power · Biomass power generation and district energy
- Buyer
- LX International · SI
- Seller
- DL Energy
- Structure
- —
- Announced
- Apr 19, 2022
- Closed
- —
- Stage
- Announced
Target
Poseung Green Power, a DL Energy subsidiary, operates a biomass power plant in the Poseung industrial complex in Pyeongtaek, burning about 250,000 tonnes a year of bio solid fuel and unused wood chips to generate power and supply steam, with long-term REC contracts. 2021 revenue was reported at over KRW 60bn.
Deal rationale
LX International said biomass is less constrained by site conditions than solar or wind and has relatively high generation efficiency, and that it would consider acquiring more assets and expanding into fuel and related areas given stable expected growth (Edaily). It described the business as a stable revenue source, framed in headlines as accelerating diversification.
| Revenue | $40m |
| Operating income | $10m |
| EBITDA | — |
| Net income | — |
2021 별도 · DART-verified · 20220324000110
Press coverage
- 이데일리 (2022-04-19): “포승그린파워 지분 전량인 63.3%를 950억원에 인수하는”
- 한국벤처캐피탈협회 M&A 뉴스레터 (2022-06): “LX인터내셔널, 950억원에 포승그린파워 인수…사업 다각화 속도”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.