Standard Chartered Private Equity (SCPE), Standard Chartered Bank's private equity arm, has agreed to acquire a controlling interest in Kolon Water & Energy (KWE), one of the largest private waste water treatment operations & maintenance (O&M) service providers in Korea. Under the deal, SCPE will acquire all of the secondary shares of KWE held by Kolon Corporation, the KOSPI-listed holding company of Kolon Group and the largest shareholder of the Company.

KWE manages wastewater treatment facilities of national industrial complexes, social overhead capital projects and municipalities in Korea. Originally established under the Ministry of Environment in 1997 and later privatised in 2001 as an employee-owned company, KWE was acquired by Kolon Group in 2007. SCPE first became a minority shareholder of the Company in 2009.

Taeyub Kim, Managing Director at SCPE Korea, stated:

"KWE has established strong market positions in the fast-growing water treatment industry. KWE's services align closely to Standard Chartered's commitment to support industries that enhance the community's well being. We are excited about the Company's continued growth in its core O&M business. We look forward to supporting the Company's expansion plans to become the leading integrated environmental solutions provider in Korea."