SK Innovation to absorb battery materials unit
SK Innovation, Korea's leading oil refiner, said Tuesday it will absorb a battery materials unit as part of its plan to restructure its battery business. In a regulatory filing, SK Innovation said it will take over the unit, SK IE Technology (SKIET), to increase the competitiveness of the unit's battery separator business. The absorption plan will be carried out by a share swap between SK…
SK Innovation will absorb its battery materials unit, SK IE Technology (SKIET). The move is part of a plan to restructure its battery business and increase the competitiveness of SKIET's battery separator business.
The absorption will be carried out through a share swap between SK Innovation and SKIET at a ratio of 1 to 0.1174540.
The plan is set to be approved at shareholder meetings of both companies on November 24, according to a regulatory filing.
Brief written by urgent.news from The Korea Times, The Korea Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- SK Innovation to absorb battery materials unit koreatimes.co.kr
- SK Innovation to absorb battery materials unit en.yna.co.kr
