Statement from the Competition Council regarding the economic concentration project concerning the acquisition by ‘Korea Water Solutions Holdings Co., Ltd’ of the water solutions business owned by ‘LG Chem Co., Ltd’

In accordance with Article 13 of Law 104-12 on freedom of prices and competition as amended and supplemented, and Article 10 of Decree No. 2-14-652 issued for its implementation, the Competition Council makes available to the public the ‘operation summary’ below, containing information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this statement does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 for the implementation of Law 104-12 on freedom of prices and competition.

Names of the companies and groups involved:

• The acquirer: ‘Korea Water Solutions Holdings Co., Ltd’
• The target: the water solutions business owned by ‘LG Chem Co., Ltd’

Nature of the operation

• Asset acquisition.

Economic sectors concerned

• Manufacturing and marketing of reverse osmosis (RO) technologies.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this statement, i.e., July 21, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the acquisition by ‘Korea Water Solutions Holdings Co., Ltd’ of the water solutions business owned by ‘LG Chem Co., Ltd’.

‘Korea Water Solutions Holdings Co., Ltd’ is a recently established South Korean company with its headquarters at 20F, 10, Gukjegeumyung-ro, Yeongdeungpo-gu, Yeouido-dong, International Finance Center Tow IFC, Seoul, South Korea. It is part of the ‘Glenwood’ fund portfolio. ‘Glenwood’ is a private equity fund specializing in ‘carve-out’ operations, particularly those involving ‘non-strategic’ or ‘less strategic’ subsidiaries or business units of large Korean conglomerates and high-growth potential multinationals.

‘LG Chem Co., Ltd’ is a South Korean company listed on the stock exchange in South Korea with its headquarters at 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, South Korea. It is engaged in the manufacture of basic petrochemical products.

 

Done in Rabat on July 10, 2025