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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Telecom has decided to sell Ocean Bridge, a semiconductor facility and equipment company invested through Alchemist Capital, a private equity fund (PEF) operator, to KOSDAQ-listed TEMC.
Ocean Bridge signed a contract with TEMC on the 12th to sell a 33.40% stake in Pan Asia Semiconductor Materials Limited, the largest shareholder. Pan Asia Semiconductor Materials Limited is a fund formed by Alchemist to acquire Ocean Bridge, and the largest shareholder is SK Telecom (59.9%). In this sale, Ocean Bridge was recognized for its equity value of about 200 billion won.
Alchemist acquired a 24.2% stake in Ocean Bridge management rights through a project fund (a fund formed by selecting a specific acquisition target) in 2020 for about 27.8 billion won. SK Telecom invested 20 billion won in the fund and expected business synergy with its subsidiary SK Hynix at the time.
Founded in 2012, Ocean Bridge is a company that produces chemical materials, facilities and equipment for semiconductor processes. SK Hynix was listed on the KOSDAQ market in 2016 with rapid earnings growth as a customer. The market capitalization based on the closing price of the day is 146.9 billion won. As of the end of last year, consolidated sales were 165 billion won and operating profit was 22.8 billion won, up 76% and 43% from a year earlier, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
