SK Sells 100% Stake in SK Signet to SK electlink
SK will sell its entire stake in SK Signet, a manufacturer of electric vehicle fast chargers, to SK electlink.
SK said on October 29 that it had signed a stock purchase agreement to sell its 100% stake in SK Signet to SK electlink.
SK electlink is an electric vehicle charging platform company that global private equity firm Anchor Equity Partners (Anchor EP) acquired from SK Networks last year.
The transaction is valued at up to 200 billion won. SK will receive 75 billion won when the deal closes, with up to an additional 125 billion won if SK Signet achieves certain performance targets in 2028-2029.
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Previously, SK conducted two tender offers to protect minority shareholders. It also plans to pay 8,200 won in cash per share for the remaining 2.2% stake in SK Signet, on the same terms as the tender offer, and make the company a wholly owned subsidiary.
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