Advice to IMM PE and IMM Investment’s Acquisition of 100% Stake in Ecorbit Corp. for KRW 2.7 trillion
2024.12.12.
Representing IMM PE and IMM Investment, Yulchon’s M&A Team successfully closed a transaction in which multiple PEFs and SPCs managed by IMM PE and IMM Investment acquired 100% of the issued and outstanding shares of Ecorbit Corp. (“Ecorbit”), in which TY Holdings Limited and KKR Fund respectively had 50% interests.
Ecorbit is active in various businesses related to waste treatment/environment, including waste landfill, water treatment, waste incineration, waste battery recycling, and soil remediation. It has the largest market share domestically in the waste landfill, public water treatment, and medical waste incineration segments.
The sale of Ecorbit became necessary due to the financial difficulty of Taeyoung Group, including the workout of Taeyoung E&C. IMM PE and IMM Investment, which have an extensive track record of investing in waste treatment businesses, plan to own 100% of Ecorbit’s issued and outstanding shares and make the company grow into Korea’s largest waste treatment player through unwavering investments and bolt-on acquisitions. The transaction value stands at approximately USD 1,955,077,979 (KRW 2,620,000,000,000).
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