SK Discovery Purchases 282.8 Billion KRW Worth of SK D&D Shares (Comprehensive)

[Asia Economy Reporter Park So-yeon] On the 21st, SK Discovery announced that its subsidiary SK Gas acquired all shares of SK D&D held by SK Gas to actively explore future businesses such as eco-friendly materials and bio.

SK Discovery disclosed on the same day that it will acquire 7,564,389 shares of SK D&D for approximately 282.8 billion KRW. The acquired shares represent about 34.1% of SK D&D's common stock.

SK Discovery stated, "We purchased the shares through off-hours block trading to make SK D&D a subsidiary," adding, "The acquisition price applied a 20% control premium on the closing price of the trading day in accordance with relevant laws and regulations."

After the share acquisition, SK Discovery's stake in SK D&D will increase to 31.3%.

SK Discovery is a holding company that controls SK Gas, SK Chemical, and others. The purpose of this SK D&D share acquisition is interpreted as an effort to improve management efficiency by restructuring the governance and to resolve business restrictions on SK D&D as a grandchild company under the Fair Trade Act.

SK Gas is expected to gain momentum in its hydrogen business by securing investment funds necessary for transitioning to a hydrogen-centered business model. SK Discovery will complete its future business portfolio centered on SK Chemical, SK Gas, and SK D&D and will actively pursue future business development.

SK D&D, which will become a subsidiary, plans to collaborate with SK Discovery's real estate IT solution subsidiaries to advance in fields such as big data-based Proptech (property technology combining real estate and technology) business.

SK D&D also plans to make a full-scale entry into the renewable energy market.

This content was produced with the assistance of AI translation services.