Sell-side advisory for Renewus, Renewone and Renew Energy Chungbuk Co., Ltd.

PwC Korea advised SK ecoplant on the sale of its entire equity interests in Renewus, Renewone and Renew Energy Chungbuk to global investment firm KKR Infrastructure in a transaction valued at KRW 1.78 trillion. The transaction was strategically significant as it supported SK Group’s portfolio realignment toward semiconductors and AI, improved its financial structure, and marked the re-entry of global capital into Korea’s environmental infrastructure market.

The transaction involved a complex structure encompassing the integrated sale of more than 20 subsidiaries, the prior acquisition of residual minority interests held by financial investors, and refinancing arrangements. PwC Korea carefully designed the transaction perimeter and structure and provided tailored solutions for key issues involving permits, environmental matters, development rights and operational risks, thereby minimizing transaction uncertainty and closing risk.

PwC Korea also conducted due diligence and negotiations in parallel while closely coordinating communications among stakeholders, enabling the transaction to progress on an accelerated timeline from commencement in February 2025 to SPA signing in August and closing in November. The transaction represents a notable capital reallocation in which a Korean conglomerate transferred non-core assets to a specialized infrastructure investor and serves as a representative reference for the structuring and execution of future environmental infrastructure M&A transactions in Korea.