SK Group is pursuing the sale of its management rights in semiconductor wafer manufacturer SK Siltron.
On the 8th, according to investment banking (IB) industry sources, the holding company SK is in negotiations with private equity firm Hahn & Company regarding the sale of management rights for its subsidiary SK Siltron.
The sale target includes the 51% equity held directly by SK and 19.6% held under a total return swap (TRS) agreement, totaling 70.6%. As SK Siltron's valuation is being discussed at around 5 trillion won, SK is expected to gain about 3 trillion won from this sale.
The industry views this sale as part of a rebalancing effort by SK Group. Amid increasing global economic uncertainty, the strategy is to secure liquidity by selling non-core profitable businesses.
Some have long predicted the sale of SK Siltron. Chairman Choi is in a property division lawsuit due to his divorce from Na So-Young, the director of the Na Art Center. Last year, the appellate court ruled that Chairman Choi must pay 1.38 trillion won to Director Na as part of the asset division. If the appellate court's ruling is recognized by the Supreme Court, Chairman Choi may need to sell his equity in SK Siltron to secure funds.