KB News Desk
SK Inc. agreed to sell its controlling stake in semiconductor wafer maker SK Siltron to Doosan Corp. for about 2.3 trillion won ($1.6 billion), freeing up cash as the conglomerate reshapes its portfolio and invests in new growth businesses.
SK’s board approved the sale of its 70.6 percent stake Friday, clearing the way for the two companies to sign a share purchase agreement. Doosan was named preferred bidder in December.
The stake being sold comprises 51 percent held directly by SK and another 19.6 percent secured through total return swap agreements. SK Group Chairman Chey Tae-won owns the remaining 29.4 percent, and Friday’s board approval did not cover his stake.
Doosan is expected to seek a separate agreement to acquire Chey’s stake, giving it full ownership of SK Siltron. The holding is estimated to be worth around 900 billion won.
SK Siltron is one of the world’s largest makers of 300-millimeter silicon wafers, the thin discs used as substrates for semiconductor chips. The company ranks third globally in the market, according to SK.
Founded in 1983, SK Siltron joined SK Group in 2017 and has since become a key part of its semiconductor supply chain.
SK said proceeds from the sale would be used to strengthen its balance sheet and fund future growth businesses.
The transaction will give Doosan control of a major supplier in the semiconductor materials industry, adding to the industrial group’s push into businesses tied to chips and advanced manufacturing.
