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KKR, Taeyoung to sell S.Korea JV in more than $2 bln deal

Reuters · 1y

KKR and South Korea's Taeyoung Group are preparing to sell their joint venture, Ecorbit, in a deal that could value the company at over $2 billion. The firms have reportedly hired Citigroup and UBS to manage the sale process. Ecorbit, established in 2021, specializes in water treatment, waste management, and material recycling. The sale comes amidst debt troubles for Taeyoung Group's affiliate, Taeyoung Engineering & Construction, which recently announced plans to restructure its debt. KKR and Taeyoung Group are seeking a complete exit from Ecorbit through the sale.