PwC advised SK ecoplant Co., Ltd (SKEP) on the acquisition of 30% equity interest in Cenviro Sdn Bhd (“Cenviro”) from Khazanah Nasional Berhad (“KNB”)

The Corporate Finance teams from PwC South Korea and PwC Malaysia are pleased to announce the acquisition of a 30% equity interest in Cenviro Sdn Bhd, a Malaysian-based integrated environmental waste management solution provider, by SK ecoplant Co., Ltd (SKEP), from KNB.

SKEP is a SK Group company involved in eco-friendly business in the field of integrated waste management, energy, engineering, and construction with leading technologies and construction capabilities in various industries, such as oil & gas, petrochemical, power plants, civil infrastructure, architecture, and housing. SK ecoplant plans to establish itself as a leader in the Korean environmental service market and to grow into a leading Asian environmental service provider. In 2021, SKEP recorded revenue of USD 4.9 billion (KRW 6.2 trillion) and EBITDA of USD 177 million (KRW 224 billion).

Cenviro is a leading environmental waste management provider in Malaysia and operates Malaysia’s first integrated Waste Management Centre which has been in operation since 1998. Cenviro also holds the license to handle 76 categories of 77 scheduled wastes listed under Environment Quality (Scheduled Wastes) Regulation 2005 for collection, treatment, recycling, recovery and final disposal.

The Corporate Finance teams from PwC South Korea and PwC Malaysia acted as the sole financial advisors to SKEP in connection with the acquisition. The transaction agreements were signed in May 2022.