SK Inno Pursues Sale of SK Jonghap Chemical Shares
[Asia Economy Reporter Choi Dae-yeol] SK Innovation has decided to sell about half of the shares of its petrochemical subsidiary, SK Comprehensive Chemical. This is part of SK Group's strategy to increase eco-friendly investments.
According to industry sources on the 22nd, SK Innovation has appointed JP Morgan as the sales advisor and is promoting the sale of SK Comprehensive Chemical shares to global petrochemical companies. So far, the company has only decided to sell up to 49% of the shares without management rights, and the specific sale targets or methods have not been determined, the company said. SK Innovation holds 100% of SK Comprehensive Chemical shares as the intermediate business holding company of SK Group.
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Under the policy to strengthen the eco-friendly business strategy called ‘Green Balance 2030,’ SK Innovation is promoting the sale of shares to secure growth funds and expand business synergies. A company official said, "We are pursuing partnering in a direction to enhance business synergies," adding, "The plan is to sell to strategic investors (SI), not financial investors."
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