SK ecoplant Sells CENVIRO Stake to Veolia

SK ecoplant has sold its stake in CENVIRO, a Malaysian waste management company, to French environmental giant Veolia. This transaction is part of SK ecoplant's ongoing business restructuring focused on semiconductor and AI infrastructure. The deal is expected to be finalized within the month, with SK ecoplant and the Malaysian sovereign wealth fund Khazanah contributing to the acquisition.

Currently, Khazanah holds a 70% stake, while SK ecoplant owns 30%. The combined investment of over 51% will be secured by combining both entities' shares.

CENVIRO's corporate value is estimated between 800 billion won and 900 billion won. SK ecoplant's 30% stake was valued at around 194.7 billion won as of June. The company acquired its stake in CENVIRO for about 150 billion won in 2022, with the goal of turning it into a Southeast Asian environmental business hub. However, low profitability led to a push for a sale since April 2024.

In 2025, CENVIRO generated 350.9 billion won in sales but reported a net loss of 26.3 billion won. For the first half of 2025, sales were 181.3 billion won, and net income amounted to approximately 26 million won.

The sale is seen as a strategic move to reduce financial burdens tied to low-profitability environmental businesses and to concentrate resources on semiconductor and AI infrastructure. Last month, SK ecoplant launched an AI data center business division and is restructuring its organization around these sectors.