KKR acquires 100% of Renewus, Renewone, Renew Energy Chungbuk for KRW 1.78tn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $1.2bn
- Stake
- 100%
- Implied 100%
- $1.2bn
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- Renewus, Renewone, Renew Energy Chungbuk · Water treatment & waste management
- Buyer
- KKR · FI
- Seller
- SK Ecoplant
- Structure
- —
- Announced
- Aug 20, 2025
- Closed
- Nov 18, 2025
- Stage
- Closed
Target
SK ecoplant's environmental subsidiaries: Renewus (formerly EMC Holdings) in water treatment (about 80% of revenue) and waste incineration/landfill, Renewone (formerly Daewon Green Energy) in medical-waste incineration and landfill, and Renew Energy Chungbuk (formerly Clenko) in waste treatment.
Deal rationale
SK ecoplant said the sale, in line with the SK Group rebalancing strategy, would strengthen its portfolio around semiconductors and AI data centers and improve financial soundness, with part of the proceeds used to repay borrowings. Herald Economy reported SK had invested over KRW 1.61tn (EMC Holdings 100% for KRW 916.5bn from Affirma Capital in 2020 plus KRW 90bn in 2021, and about KRW 610bn for seven waste companies in 2021), that weak operating performance kept the acquisition cost a burden, and that SK lowered its price from an initial expectation above KRW 2tn.
Press coverage
- 비즈워치 (2025-08-20): “3개 회사의 총 기업가치는 1조7800억원이다”
- 딜사이트 (2025-12-16): “KKR은 지난달 14일과 18일 두 차례에 걸쳐 SK에코플랜트 자회사인 리뉴어스·리뉴원·리뉴에너지충북 인수 대금 납입을 완료했다.”
- 헤럴드경제 (2025-08-18): “환경 자회사의 영업 성과가 부진해 인수 비용 부담이 지속되자 매각을 선택했다.”
- 헤럴드경제 (2025-08-18): “2020년 어펄마캐피탈로부터 리뉴어스의 전신인 EMC홀딩스 지분 100%를 9165억원에 인수”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.