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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Doosan Group is set to finalize the acquisition of SK Siltron, the world’s third-largest semiconductor wafer producer, in a deal valued at approximately KRW 5 trillion ($3.6 billion), signaling a major pivot from heavy industry to advanced semiconductor materials.
According to industry and investment banking sources on May 17, Doosan Corporation has concluded final-stage negotiations and is expected to sign a share purchase agreement (SPA) as early as next week.
The transaction will cover a combined 70.6% stake in SK Siltron, including a 51% stake held by SK Inc. and an additional 19.6% tied to a total return swap (TRS) agreement. The deal is also reported to include the remaining 29.4% stake held personally by Chey Tae-won, effectively transferring full ownership of the company.
SK Inc. had put SK Siltron up for sale as part of its broader portfolio rebalancing strategy. Doosan was selected as the preferred bidder in December last year, with the deal now nearing completion after roughly five months of negotiations.
The acquisition is widely seen as a strategic move driven by Park Jeong-won to reposition the group’s core growth engine toward high-value semiconductor materials. Doosan previously entered the semiconductor sector in 2022 through the acquisition of post-processing firm Doosan Tesna, and the addition of SK Siltron further strengthens its position across the semiconductor value chain.
Industry observers note that the transaction delivers mutual benefits for both groups. SK Group is expected to secure capital to focus on core strategic assets while resolving governance issues related to Chairman Chey’s personal stake. Meanwhile, Doosan gains immediate access to a leading global wafer manufacturer, significantly enhancing its competitiveness in the semiconductor materials sector.
However, market participants caution that Doosan will face key challenges ahead, particularly in financing the multi-trillion-won acquisition and managing the associated increase in financial leverage.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
