Korean private equity firm Hahn & Co. said that it has successfully completed the acquisition of the industrial film business of SKC, an affiliate of Korea s SK Group, earlier this month. The 1.6 trillion won ($1.2 billion) buyout deal is the country s largest M&A transaction closed this year. Hahn & Co. and the SK Group signed a stock purchase agreement in June this year, laying out that the Seoul-based private equity firm would acquire a 100-percent stake in SKC s polyester (PET) film business at the price of 1.6 trillion won. SKC s industrial film unit is the largest in Korea and the fourth-largest globally, with an annual revenue posting 1.2 trillion won and an operating profit of 68.9 billion won in 2021. Since SKC s establishment of the industrial film business unit in 1977, it has been the company s core business.
Hanjin Group speeds up asset divestments to cope with pandemic |
A promotional photo of an aircraft of Korean Air Lines, an aviation arm of Hanjin Group. (Korean Air Lines)
Hanjin Group, which controls South Korea‘s largest aviation firm Korean Air Lines, is speeding up asset divestments to secure cash in an apparent effort to cope with the COVID-19 pandemic, filings showed Sunday.
Hanjin Group’s holding company Hanjin KAL is poised to sell a 100 percent stake in a golf course developer Jedong Leisure to an undisclosed buyer for 23 billion won ($20.9 million). The company, located in Jeju Island, has sought to lay out a golf course development project in eastern Gyeonggi Province, only to face road blocks due to regulations.