Hahn & Co. to acquire entire stake in SK D&D, seek voluntary delisting

Hahn & Co. will acquire SK Discovery’s entire stake in SK D&D and proceed with a voluntary delisting of the company, according to an electronic disclosure Wednesday. SK D&D, a real estate developer, has been jointly managed by Hahn & Co. and SK Discovery. Through the plan, Hahn & Co. is expected to increase its managerial flexibility by privatizing SK D&D and accelerating its exit strategy. SK Discovery is also anticipated to streamline its portfolio by divesting its real estate development unit, considered non-core, and focusing on its main businesses in energy and biotechnology. According to the Financial Supervisory Service’s electronic disclosure system, a special purpose company (SPC) established by Hahn & Co. has signed a share purchase agreement (SPA) with SK Discovery to acquire some 5.82 million common shares, representing a 31.27 percent stake, for about 74.2 billion won ($53 million). The SPC then plans to purchase all of the roughly 7 million remaining shares through a public tender offer, with the aim of voluntarily delisting SK D&D. The tender offer price has been set atWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times