E1 consortium (Kalista Capital, Meritz Securities) acquires 100% of Pyeongtaek Energy Service (Hana Power Package) for KRW 594.3bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $410m
- Stake
- 100%
- Implied 100%
- $410m
- Revenue
- $577m
- Op. income
- $60m
- Multiples
- EQV/EBIT 6.8xPSR 0.7x
Deal value ÷ stake (structure unconfirmed)
2023 · Multiple reports agree
2023 · Multiple reports agree
On implied equity value
- Target
- Pyeongtaek Energy Service (Hana Power Package) · LNG combined-cycle power / district energy
- Buyer
- E1 consortium (Kalista Capital, Meritz Securities) · SI
- Seller
- Hana Securities (Hana Power Package SPC)
- Structure
- —
- Announced
- Jun 17, 2024
- Closed
- Sep 6, 2024
- Stage
- Closed
Target
Pyeongtaek Energy Service operates an LNG combined-cycle power plant under Hana Power Package and is reported to supply heat to the Pyeongtaek Sosabeol district and Samsung Electronics' Pyeongtaek semiconductor plant. Hana Securities acquired the Pyeongtaek, Gimcheon and Jeonbuk plants from SK E&S for KRW 1.08tn via the Hana Power Infrastructure No.1 PEF in 2014-2015.
Deal rationale
E1 was reported to be pursuing the plants to move beyond being an LPG distributor and become a comprehensive energy company, acting as strategic investor and operator with Kalista Capital and Meritz Securities as financial investors. Seller Hana Securities was reported to be selling as a pre-emptive risk response to shrink its real estate finance exposure and raise cash for new businesses.
| Revenue | $577m |
| Operating income | $60m |
| EBITDA | — |
| Net income | — |
2023 · Multiple reports agree (not yet checked against DART)
Press coverage
- 딜사이트 (2024-06-21): “E1은 최근 하나파워패키지 평택에너지서비스 지분 100%를 5770억원에 인수계약을 맺었다.”
- 딜사이트 (2024-04-11): “E1은 지난달 15일 1조원 규모로 예상되는 하나파워패키지(평택·김천·전북 LNG 발전소) 지분 매각 입찰의 우선협상대상자로 선정됐다.”
- IB토마토 (2023-09-12): “기존 비대해진 부동산금융을 축소하고 현금 마련을 통한 신사업 육성을 목표로 한 선제적인 리스크 대응이라는 분석이다”
- 뉴데일리 (2024-05-29): “액화석유가스(LPG) 유통 사업자라는 한계에서 벗어나 종합에너지기업으로 도약하고자”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.