HD Hyundai Oilbank, Daekyung O&T 100% acquisition agreement signed
HD Hyundai Oilbank and the Tennet Equity Partners consortium recently signed a stock purchase agreement to acquire a 100% stake in Daekyung O&T. The transaction is valued at around 5 billion won, with Tennet EP taking responsibility for about 80% of the consortium’s stake.
A consortium of HD Hyundai Oilbank and private equity firm Tennet Equity Partners (Tennet EP) recently signed a stock purchase agreement to acquire a 100% stake in Daekyung O&T. The signing of the agreement was confirmed through company officials and industry reports. The parties to the transaction are HD Hyundai Oilbank and the Tennet EP consortium.
The transaction is valued at around 5 billion won. Tennet EP is responsible for about 80% of the consortium’s stake. HD Hyundai Oilbank will hold the remaining stake.
Daekyung O&T collects animal fats and used cooking oil and processes them into raw materials. The materials it produces are used as feedstock for environmentally friendly fuels, including sustainable aviation fuel (SAF). The company supplies feedstock in the white biotechnology sector.
revenue of 5,013 hundred million won, operating profit of 357 hundred million won. The company is known as one of the largest suppliers of biodiesel feedstock in South Korea. The publicly disclosed financial figures are as stated above.
Daekyung O&T’s ownership structure will change under a stock purchase agreement. The transaction is expected to proceed in accordance with the agreement regarding the closing date and detailed terms. The companies are said to be taking subsequent steps in accordance with their internal procedures and regulations.
Sources: 연합인포맥스
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