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SKC |
[Alpha Biz= Reporter Kim Jisun] SKC is set to repay a 700 billion KRW loan that was taken out for the acquisition of SK Nexilis, a manufacturer of copper foil for secondary batteries.
On the 29th, SKC announced that it would participate in a 700 billion KRW capital increase to fully repay the acquisition financing of SKCFT Holdings. This capital increase is scheduled to take place on September 24.
Previously, SKC had announced that SK Nexilis would merge with SKCFT Holdings. The merger ratio is set at 1:12.7287172. SKCFT Holdings was a special purpose company (SPC) created specifically for the acquisition of SK Nexilis, and the merger is intended to increase efficiency by integrating the now redundant SPC with the operational company.
SKC acquired SK Nexilis in 2020 for 1.19 trillion KRW as part of its strategy to expand its electric vehicle material value chain. SK Nexilis is known for its advanced process technology in producing ultra-thin copper foil, a critical material for secondary batteries.
Thanks to SK Nexilis, SKC reported a profit of 464.7 billion KRW in 2021. However, due to the impact of the "EV chasm," the company recorded a loss of 216.3 billion KRW last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
