SK Gas "Additional Acquisition of SK D&D Shares Worth 51.1 Billion KRW"
[Asia Economy Reporter Park So-yeon] SK Gas announced that it will additionally acquire 2 million shares of SK D&D, an affiliate engaged in real estate development and supply, furniture, and renewable energy businesses, for 51.1 billion KRW.
According to related industries on the 25th, after the additional acquisition of SK D&D shares, SK Gas's stake in SK D&D will be 31.3%. The scheduled date for the stock acquisition is the 22nd of next month.
SK Gas stated that the purpose of this stock acquisition is to "secure investment funds for SK D&D."
Earlier, SK Gas announced that it will enter the local gas chemical business by establishing a joint venture in Saudi Arabia.
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SK Gas and Saudi petrochemical company APC have agreed to build a propylene and polypropylene (PP·PDH) production plant worth 1.8 billion USD (approximately 2.196 trillion KRW) in the Jubail area of Saudi Arabia.
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