SK ecoplant will sell three environmental subsidiaries to global investment firm KKR (Kohlberg Kravis Roberts) for 1.78 trillion won. This decision is aimed at restructuring the business portfolio centered on semiconductor and artificial intelligence (AI) advanced businesses and improving the financial structure.
SK ecoplant announced on the 20th that it has signed a stock purchase agreement (SPA) to sell 100% of the equity of its three environmental subsidiaries: Renewus, Renewone, and Renewenergy Chungbuk, to KKR. The sale is expected to be around 1.78 trillion won. In the case of Renewus and Renewenergy Chungbuk, plans are in place to sell the remaining equity in a lump sum.
SK ecoplant plans to strengthen its business portfolio centered on advanced industries such as semiconductor and AI data centers. An improvement in financial structure is also anticipated.
SK Group has been implementing a large-scale business rebalancing strategy since last year. Accordingly, SK ecoplant is incorporating high-value-added corporations as subsidiaries. Last year, it brought SK Air Plus and Esencore into the subsidiary fold. The incorporation of four companies, including SK Trichem, SK Resonac, SK Materials JNC, and SK Materials Performance, is also underway. The revenue of the four planned subsidiaries last year was about 350 billion won. The total revenue including SK Air Plus and Esencore last year amounted to approximately 1.68 trillion won.
A representative from SK ecoplant noted, "Through this rebalancing, we will enhance financial soundness and further strengthen our business portfolio centered on advanced industries such as semiconductor and AI."
A representative from KKR stated, "This transaction is a symbol of the strengthened partnership between SK and KKR," adding, "With this as a starting point, we plan to further solidify our cooperative relationship with SK in the future."