FX.co ★ EQT To Buy KJ Environment, Affiliates In South Korea

EQT Corporation (EQT), an energy company, announced on Friday that its EQT Infrastructure VI division has finalized an agreement to acquire KJ Environment, a waste recycling firm, along with its affiliated entities. These companies are currently owned by Genesis Private Equity, which specializes in environmental and energy infrastructure.

This acquisition represents EQT’s second infrastructure investment in South Korea. While the financial terms of the transaction were not disclosed, the acquisition is anticipated to be completed by the fourth quarter of 2024.

The strategic goal of this acquisition is to create an integrated waste treatment platform with a focus on plastic recycling and waste-to-energy solutions in South Korea. The target companies operate sites in the Greater Seoul Metropolitan Area, serving regions that encompass over 50 percent of South Korea’s population and gross domestic product (GDP).