SEOUL/ BENGALURU (Reuters) – SK Inc, the holding company of South Korea’s second-largest conglomerate SK Group, plans to sell a stake worth 2.7 trillion won ($1.86 billion) in specialty gas manufacturing unit SK Specialty to local private equity firm Hahn & Company, it said in a filing on Monday.
Hahn & Co will acquire 85% of SK Specialty, while SK Group will retain a 15% stake in the unit, the private equity firm said.
Earlier this year, Reuters reported that SK Inc had picked Hahn & Co as its preferred bidder to acquire the unit.
SK Specialty, a gas and chemical company, supplies key materials used in semiconductors, display panels and solar cells.
($1 = 1,452.4700 won)
(Reporting by Joyce Lee & Rajasik Mukherjee in Bengaluru; Editing by Tasim Zahid)
