SK chairman to unload $700.8 mil. stake in holding firm to pay ex-wife
SK Group Chairman Chey Tae-won will unload his stake in the group’s holding firm SK Inc. worth 944 billion won ($700.8 million) to finance a property division payment to his former wife, Roh Soh-yeong, the group said Friday. In a regulatory filing, SK Inc. said Chey, its largest shareholder, will sell 1,653,924 shares in the holding company, equivalent to a 2.3 percent stake. The transactions are…
SK Group Chairman Chey Tae-won plans to sell his 2.3 percent stake in SK Inc., worth 944 billion won ($700.8 million), to cover his ex-wife's property division payment, according to the company's regulatory filing. The transactions, set for November 2, involve selling 1,653,924 shares in SK Inc., a holding company of SK Group. SK Inc. stated that the stake sale aims to "meet the largest shareholder's personal funding needs related to the property division lawsuit."
The company assured that the transaction structure was reviewed to minimize market impact and enable Chey to continue managing the company effectively. The sale will be conducted through after-hours block trades, with 544 billion won worth of shares sold to a strategic investor and 400 billion won in a price return swap.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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