K&L Gates Advises South Korea's GS Engineering & Construction on US$1.2 Billion Sale of Water Treatment Subsidiary to UAE's TAQA

Global law firm K&L Gates has advised South Korea-based GS Engineering & Construction (GS E&C) on the sale of its water treatment subsidiary GS Inima to Abu Dhabi National Energy Company PJSC (TAQA), a UAE state-owned energy and water company. The transaction is valued at approximately US$1.2 billion. 

GS E&C is a leading international construction and engineering firm. Its subsidiary, GS Inima, headquartered in Spain, is a global leader in water treatment and water desalination, with a presence in Europe, the Americas, the Middle East, North Africa, and Asia. 

TAQA’s acquisition of GS Inima marks a significant step in expanding its water treatment capabilities and supports its strategic ambition to increase clean energy-based power generation to over 30% by 2030.

The Corporate deal team was led by Seoul partner Andrew Chung, Europe-based partners Dr. Franz Schaefer (Munich), Craig Fraser (London), and Francesco Carloni (Brussels), with support from senior associate Vijesh Parmar and associates Madeleine Williams, Suvi Ronan, and Saya Lee. Regulatory work is being handled by Carloni and counsel Dr. Michael Hofmann (Brussels).

Chung, Schaefer, and Fraser commented: “This transaction reflects the growing global demand for sustainable infrastructure and strategic investment in water and energy assets. We are proud to have supported GS E&C in achieving a successful outcome that positions GS E&C to sharpen its focus on core growth areas.”

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents, providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.