KKR, Taeyoung Group to sell S.Korea JV Ecorbit in deal worth over $2 bln -sources
By Kane Wu
HONG KONG, Jan 30 (Reuters) - Global buyout firm KKR & Co and South Korean conglomerate Taeyoung Group are planning to sell their joint venture Ecorbit in a deal that could value the environment firm at over $2 billion, according to two people with knowledge of the matter.
They have mandated Citigroup and UBS to manage the sale process, which is expected to begin in the next couple of months, said the people, who declined to be identified as the information is confidential.
KKR, Citi and UBS declined to comment.
Taeyoung Group and Ecorbit could not be reached for immediate comment outside business hours.
The Korea Economic Daily first reported the bank mandate on Tuesday.
(Reporting by Kane Wu in Hong Kong; additional reporting by Joyce Lee in Seoul)
