{"id":18546,"date":"2024-07-17T18:48:07","date_gmt":"2024-07-17T09:48:07","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=18546"},"modified":"2025-11-02T16:00:12","modified_gmt":"2025-11-02T07:00:12","slug":"18546","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/18546","title":{"rendered":"SK Innovation and SK E&S announce merger, forming Asia-Pacific’s largest private energy company with assets of KRW 100 trillion"},"content":{"rendered":"

\u25a0 To achieve EBITDA of KRW 20 trillion by 2030 through three major synergies: portfolio, financial\/profit structure, and growth momentum<\/span><\/strong><\/p>\n

\u2460 Portfolio competitiveness: to establish portfolio competitiveness across all businesses, including current and future energy sectors<\/span><\/strong><\/p>\n

\u2461 Strengthening financial\/profit structure: to secure stable profit generation capabilities in addition to external growth in assets and sales<\/span><\/strong><\/p>\n

\u2462 Securing growth momentum: to enhance fundamental competitiveness and foster new businesses through the integration of resources and capabilities<\/span><\/strong><\/p>\n

\u25a0 To enhance raw material sourcing competitiveness and improve profit structure through the merger of SK On, SK Trading International, and SK Enterm<\/span><\/strong><\/p>\n

SK Innovation and SK E&S have announced their decision to merge, evolving into a comprehensive energy company that encompasses the entire value chain of both current energy sources (such as oil and LNG) and future energy sources (including renewable energy, hydrogen, and SMR), as well as electrification businesses like batteries and ESS.<\/span><\/p>\n

Upon merging, the combined entity will transform into a colossal energy company with assets totaling KRW 100 trillion and revenues of KRW 88 trillion, positioning itself as the largest private energy company in the Asia-Pacific region.<\/span><\/p>\n

In pursuit of this goal, SK Innovation and SK E&S each held board meetings on the 17th and approved the merger proposal. If the merger plan is approved at the shareholders’ meeting scheduled for the 27th of next month, the merged corporation will officially launch on November 1st<\/sup>.<\/span><\/p>\n

The merger ratio between the two companies is set at 1:1.1917417, calculated based on the corporate values of SK Innovation and SK E&S. Based on this ratio, SK Innovation, as the listed company, will issue new shares to SK Inc., the shareholder of SK E&S, amounting to 49,769,267 shares. The new shares of SK Innovation are expected to be listed on November 20th, and post-merger, SK Inc.’s stake in SK Innovation is anticipated to increase from 36.22% to 55.9%.<\/span><\/p>\n

On the same day, SK On, SK Trading International, and SK Enterm each convened their respective board meetings and resolved to merge the three companies.<\/span><\/p>\n

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