SK Group Chairman Chey Tae-won will sell a 2.26% stake in SK Corp for about 944 billion won (US$699.5 million), according to a filing on Friday.
The transaction is scheduled to be completed on Nov 2, the filing said.
The planned sale will reduce Chey’s holding in the group’s listed investment arm, although the filing did not provide further details on the purpose of the disposal.
The transaction values the stake at about 944 billion won based on the terms disclosed in the filing.
Chey, who also chairs semiconductor and memory chip company SK Hynix, has been leading SK Group as it expands its presence across technology and other businesses.
Reuters
