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SK Specialty |
[Alpha Biz= Reporter Kim Sangjin] South Korea's leading specialty gas company, SK Specialty, is set to be acquired by the private equity firm Hahn & Company.
On the 30th, investment banking sources reported that SK Inc. has selected Hahn & Company as the preferred bidder for the sale of SK Specialty. SK Inc. stated, "We evaluated various factors, including the proposed price, acquisition intent, and conditions from potential buyers, and ultimately chose Hahn & Company as the preferred bidder."
The acquisition amount is approximately 4.3 trillion KRW, making it the largest merger and acquisition (M&A) deal completed this year. Hahn & Company plans to conduct due diligence and finalize the stock purchase agreement (SPA) within the year.
The preliminary bidding held on the 13th saw participation from several domestic and international private equity firms, including MBK Partners and Brookfield Asset Management, demonstrating strong interest. Hahn & Company reportedly submitted the highest bid among the competing firms, securing its position as the final preferred bidder.
SK Specialty is a producer of high-purity cleaning gases, such as nitrogen trifluoride (NF3), used in semiconductor and display manufacturing processes. In the first half of this year, the company recorded revenues of 355.3 billion KRW and an operating profit of 54.4 billion KRW. Last year, its earnings before interest, taxes, depreciation, and amortization (EBITDA) were approximately 240 billion KRW.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
