SK Group Chairman Chey sells stake to Dell family office fund for $406 million

SK Group Chairman Chey Tae-won has sold a 1.34% stake in the holding company SK Inc to an investment fund connected to Dell Technologies founder Michael Dell for 544 billion won ($406 million). This transaction is part of Chey's strategy to raise 944 billion won through share sales to settle a divorce from his former wife. The buyer, DFO Public Investments, L.P., is a Delaware-based fund linked to Michael Dell's family investment office.

The deal, disclosed in a regulatory filing on Wednesday, constitutes a 0.94% stake in SK Inc, with 681,431 shares sold to Korea Investment & Securities for 400 billion won. Dell Technologies, known for its AI servers and data center infrastructure, maintains business connections with SK Hynix, SK Group's memory chip manufacturing division.