SK Group plans to sell a 49% stake in its artificial intelligence data center in Ulsan, South Korea, to several private equity investors. SK Telecom and SK Broadband are expected to approve the deal at board meetings scheduled for Aug. 27. Under the proposed transaction, KKR would acquire a 29% stake, while a consortium formed by IMM Investment and Stonebridge Capital would buy the remaining 20%. The deal values the data center at about 3 trillion won and includes roughly 1.2 trillion won in new capital injection. The transaction structure and board timetable were reported in the source brief, which identified the involved buyers and the approximate valuation terms.
SK Group plans to sell a 49% stake in its artificial intelligence data center in Ulsan, South Korea, to multiple private equity firms.
SK Telecom and SK Broadband are set to approve the transaction at board meetings on Aug. 27. Under the proposed deal, KKR will acquire 29% of the stake, while a consortium made up of IMM Investment and Stonebridge Capital will purchase 20%.
The transaction values the asset at about 3 trillion won, including around 1.2 trillion won in capital increase.
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