
SK Corporation signed a stock sale agreement to sell 100% of its shares in SK Signet, an electric vehicle fast charger manufacturer, to SK Electronic Link, an electric vehicle charging platform company.
AI-generated summary
SK Corporation conducted two tender offers to protect minority shareholders, and plans to convert SK Signet's remaining shares into a 100% subsidiary.
(Seoul = Yonhap News) Reporter Minji Kim = SK Corporation is selling all of its shares in SK Signet, a manufacturer of electric vehicle fast chargers, to SK Electric Link.
SK Corporation announced on the 29th that it signed a stock sale agreement to sell 100% of SK Signet shares to SK Electronic Link.
SK Electronic Link is an electric vehicle charging platform company that global private equity fund Anchor Equity Partners (Anchor EP) acquired from SK Networks last year.
The transaction amount is up to 200 billion won, with 75 billion won received at the end of the transaction, and up to an additional 125 billion won if SK Signet achieves certain performance in 2028-2029.
Previously, SK Corporation conducted two tender offers to protect minority shareholders.
In addition, SK Signet's remaining stake (2.2%) will be converted into a 100% subsidiary by paying 8,200 won in cash per share, similar to the tender offer.
AI outlook — possibilities, not facts
SK Signet pursues conversion into a 100% subsidiary
Very likely · Within months

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