S.Korean SK Inc to sell majority stake in gas unit for $1.86 bln to private equity firm (updated)

SK

23/12/2024 11:53

(Adds background and details in paragraphs 2-4)
       SEOUL/ BENGALURU, Dec 23 (Reuters) - SK Inc  034730.KS ,
the holding company of South Korea's second-largest conglomerate
SK Group, plans to sell a stake worth 2.7 trillion won ($1.86
billion) in specialty gas manufacturing unit SK Specialty to
local private equity firm Hahn & Company, it said in a filing on
Monday. 
    Hahn & Co will acquire 85% of SK Specialty, while SK Group
will retain a 15% stake in the unit, the private equity firm
said.    
    Earlier this year, Reuters reported that SK Inc had picked
Hahn & Co as its preferred bidder to acquire the unit.
    SK Specialty, a gas and chemical company, supplies key
materials used in semiconductors, display panels and solar
cells.

($1 = 1,452.4700 won)

 (Reporting by Joyce Lee & Rajasik Mukherjee in Bengaluru;
Editing by Tasim Zahid)
 ((joyce.lee@tr.com;))