Acquiring SK On and SK Eco Plant… merging with ‘promising companies’
Essencore and SK Materials Airplus subsidiaries merged into SK
SK Corporation, 55.9% and 62.1% stake in SK Inno and SK Eco Plant
Completion of SK Group’s rebalancing… continues business consolidation. , ‘[Edaily Kim Eun-kyung Reporter] The restructuring process of SK Group has been completed. This business restructuring focused on acquiring SK On and SK Eco Plant, both of which are deficit companies within the group. Although these companies have high growth potential, they are currently operating at a loss. By combining them with cash-rich companies, the group aims to provide financial support to resolve the funding shortage and smoothly pursue the initial public offering (IPO), interpreting this move as a way to support the companies at the group level.’,
,
, ‘SK Corporation held a board meeting and announced on the 19th that it had passed the resolutions for the merger of SK Innovation and SK E&S and the restructuring of Essencore and SK Materials Airplus, semiconductor businesses, into subsidiaries of SK Eco Plant.’,
,
, ‘Earlier, SK Innovation and SK E&S held separate board meetings on the 17th and approved their merger plans. Similarly, on the same day, SK On and SK Trading International, and SK Entrem also held board meetings and approved the mergers of the three companies. SK Eco Plant held a board meeting on the 18th and approved the incorporation of Essencore and another subsidiary.’,
,
,
|
|
| SK Serin Building in Jongno-gu, Seoul.(Photo=SK Group) |
|
, ‘The holding company, SK Corporation, has increased its stake in the energy and environmental businesses to secure growth results, while consolidating the core business capabilities of its subsidiaries that were previously dispersed, aiming for rapid financial improvement and stable profit structure.’,
,
, ‘After this restructuring, the stake in SK Innovation by SK Corporation will increase from the previous 36.2% to 55.9%, and the stake in SK Eco Plant will increase from 41.8% to 62.1%.’,
,
, ‘Explaining that securing more than 50% of the stakes of SK Innovation and SK Eco Plant, whose energy and environmental businesses are expected to grow in the long term, will lead to SK Corporation’s success. Currently, about 80% of the stake value held by SK Corporation consists of subsidiary stakes, with the remaining 20% made up of global assets and self-invested portfolios.’,
,
, ‘An official from SK Corporation stated that “the performance of subsidiary companies directly affects the value of the holding company” and said, “the aim of the portfolio restructuring is to boldly integrate overlapping areas and bring out synergies, ultimately raising the corporate value of SK Corporation.”‘,
,
, ‘SK Corporation plans to internalize valued assets in line with the direction of group rebalancing and maximize synergies between future core businesses. With the merger of SK Innovation and SK E&S, a super-large energy company with assets worth 100 trillion won and sales of 90 trillion won will be created. The merger of the two companies is expected to strengthen the competitiveness of the existing energy businesses, create new demands in the electrification business, and expand the market, among other effects.’,
,
,
|
|
| SK Corporation’s stake structure after the restructuring of SK Group.(Source=SK Corporation) |
|
, ‘SK Corporation expects SK Innovation to grow into a comprehensive energy company that encompasses the entire value chain of energy and electrification businesses, with expanded shareholder returns. By incorporating Essencore, a semiconductor module reprocessing company, and SK Materials Airplus, a manufacturer of industrial gases for semiconductors, as subsidiaries of SK Eco Plant, the company aims to establish a stable growth foundation in environmental business based on the high profitability of the semiconductor business and secure new growth drivers.’,
,
, ‘SK Corporation expects to achieve synergies in the areas of eco-friendly recycling and semiconductor infrastructure by combining the capabilities of the three companies. SK Corporation has already built a “future business portfolio” in areas such as energy, semiconductors, artificial intelligence (AI), and biotechnology and plans to strengthen the qualitative growth of its subsidiary companies through strategic portfolio management, creating synergies between subsidiaries, enhancing the group’s sustainability, nurturing growth fields, and enhancing its role as a holding company.’,
,
, ‘In addition, SK Corporation plans to significantly improve its financial structure through active asset efficiency of its portfolio, not only securing investment funds for future growth but also continuously enhancing its shareholder return policy.’,
,
, ‘With this restructuring, the business rebalancing of SK Group seems to have been initially completed. SK Innovation’s President Park Sang-gyu mentioned at a press conference the day before, “It is urgent for the organization to create synergies and stabilize for a considerable period” and said, “It would not be appropriate for SK Innovation to pursue additional changes at this time.”‘,
,
, ‘However, the industry expects that SK Group will continue its structural reorganization efforts such as business consolidation for the time being. Last month, the group announced plans to reduce the current 219 affiliated companies to a “manageable range” to secure investment funds.’,
,
,
Visited 1 times, 1 visit(s) today
