HD Hyundai Oilbank, Daekyung O&T stake 100% share purchase agreement signed (5one hundred billion won)

29On, a consortium comprising HD Hyundai Oilbank and private equity firm Tennet Equity Partners (Tennet EP) signed a share purchase agreement to acquire a 100% stake in Daekyung O&T. The agreement was recently signed. The transaction is reportedly valued at around 5one hundred billion won.

Tennet EP will take on about 80% of the consortium stake. HD Hyundai Oilbank will hold the remaining stake. The two parties did not disclose further details about the specific investment structure.

Daekyung O&T is a white biotechnology company that collects animal fats and used cooking oil to produce feedstocks for eco-friendly fuels, including sustainable aviation fuel (SAF). The company is classified as the largest domestic supplier of biodiesel feedstock. Its revenue last year was 5,013billion won, and its operating profit was 357billion won.

Tenet Equity Partners is a private equity firm. Daekyung O&T processes raw materials such as waste oil and supplies them as fuel feedstock. Details of Daekyung O&T’s business scope under the agreement and its operating plan after the acquisition have not been disclosed.

Additional procedures, including the timing of the transaction’s closing and whether regulatory approval is required, have not been disclosed. The two parties plan to proceed with the next steps. Further disclosures may be announced at a later date.