Five companies, including major private equity firms (PEF) at home and abroad and infrastructure funds, have been shortlisted to compete for EMC Holdings Co., South Korea’s leading waste water treatment company that is expected to fetch at least 1 trillion won ($833.6 billion).

Its owner Affirma Capital picked five shortlisted contenders out of 15 candidates that submitted their bids during the preliminary tender to buy a full stake in the waste management firm. They included private equity funds at home and abroad, infrastructure funds and an affiliate of a local conglomerate, according to sources from the investment banking industry on Thursday. Their names remain confidential.

The sales advisor Citi Global Market Securities will hold a final bid as early as at the end of this month.

The seller will conduct an interview with management of the shortlisted candidates starting next week.

EMC Holdings operates more than 2,000 sewage and waste water treatment facilities and four incinerators across the nation. It was once a subsidiary of state-owned Korea Environment Corporation, but became a private company when it was acquired by Kolon Group in 2007. Affirma Capital bought the company, formerly named Kolon Water & Energy in 2016, and renamed it into EMC Holdings. EMC Holdings posted 45.3 billion won in operating profit and 380.9 billion won in sales last year.

The sale of the lucrative business is expected to fetch at least 1 trillion won.

By Kang Woo-seok and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]