SK Ecoplant is reportedly considering selling its environmental management subsidiaries Renewus and Renewone. The total sale price is estimated to reach about 2 trillion won.
According to the industry on the 12th, SK Ecoplant is in contact with multiple domestic and foreign private equity funds regarding the sale of 75% of Renewus equity and 100% of Renewone equity.
Renewus (formerly known as Environmental Facility Management), acquired by SK Ecoplant in 2020, is the top operator in public sewage treatment, holding 75% equity. Renewone is a waste incineration company that SK Ecoplant acquired in 2021 as it sought to expand its business into the environment and energy sectors.
However, SK Ecoplant noted, "It is just taking a look at the proposals from private equity funds, and nothing is decided yet."
Despite this clarification, industry experts forecast that the sale will not occur, given that SK Ecoplant is reorganizing its business portfolio in the semiconductor comprehensive service sector amid significant financial burdens. SK Ecoplant's liability ratio stood at 251% as of the third quarter last year.
There are also analyses suggesting that the SK Group is adjusting the number of its affiliates. Furthermore, the increasing valuations of environmental companies in the market, as evidenced by the sale of waste management firms Ecovit and KJ Environment for around 2 trillion and 1 trillion won respectively, are seen as background factors in deciding to review the sale.