Keppel Infrastructure Fund Management, Keppel Asia Infrastructure Fund (KAIF) and co-investor Keppel Infrastructure Holdings (KI), are jointly acquiring Eco Management Korea (EMK), a South Korean waste-management company.
The companies are taking 100-percent ownership of Eco Management Korea via a special purpose vehicle (SPV), in which KIT will hold a 52-percent interest, with KAIF holding 30 percent and KI 18 percent, once established. The companies are paying $626.1 billion won ($480 million) for EMK.
EMK is an integrated waste management services player in South Korea, serving the national market. Operating six waste-to-energy (WTE) plants and five sludge-drying facilities, EMK has the third-largest incineration capacity in South Korea. It is also the largest waste oil refiner in the country, and manages and owns a landfill, which has the fourth largest capacity in the nation.
“With the increased emphasis on promoting a circular economy, South Korea is pri
