Australianfinancial group Macquarie launched a drive to raise a 500-billion-won fund totake over another Korean waste treatment firm. Since 2013, Macquarie hasacquired a string of waste treatment companies, based on its judgment that thewaste treatment industry has a great potential for future growth.
Accordingto industry sources on May 15, Macquarie Capital Korea and Davi Hana Infra Fundformed a consortium to create a fund dedicated for acquisition of wastetreatment companies. IBK Bank will take part in as a major investor.
Giventhat the acquisition price for a waste treatment company ranges between 30 and80 billion won, the fund is large enough to finance acquisitions of up to 7-8companies. The fund will have a long-term maturity of 15 years.
InApril, Macquarie Group took over a 33.63-percent stake in Koentec, a specialistin reclamation and incineration of industrial and household wastes, for 79.5billion won. Three months earlier, Macquarie Capital acquired the managerial controlof a food waste treatment firm Re-Clean.