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SK Gas. (Photo courtesy of SK Gas) |
[Alpha Biz= Kim Jisun] SK Gas will secure more than KRW 1 trillion in funding by selling a partial stake in its power generation affiliate, Ulsan GPS.
According to a regulatory filing on April 6, SK Gas will sell a 49% stake in Ulsan GPS to a consortium led by STIC Investments and Korea Investment Private Equity. The transaction is valued at KRW 1.2242 trillion, with the closing scheduled for May 29.
Following the deal, SK Gas will retain a 51% stake, maintaining management control over the company.
SK Gas stated that the divestment is aimed at improving asset efficiency and securing capital for future growth investments.
The company had previously invested approximately KRW 1.4 trillion in 2022 to develop Ulsan GPS and is expected to recover most of its initial investment through the transaction.
Ulsan GPS, which began commercial operations in 2024, is a combined-cycle power plant fueled by liquefied natural gas (LNG) and liquefied petroleum gas (LPG).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
