SK Gas Sells 49% Stake in Ulsan GPS for 1.22 Trillion KRW, Retains Control and Secures Growth Funds
SK Gas decided to sell 33,801,180 shares (49% stake) of subsidiary Ulsan GPS for 1,224.24 billion KRW. Transfer expected on June 30, 2026.
The sale proceeds amount to 38.93% of SK Gas's equity (3.14 trillion KRW) and 15.24% of total assets, representing a significant cash inflow.
The buyer changed to STIC Hanwha Infrastructure Co., Ltd. (a private equity firm), and the fairness opinion was provided by Jinpyeong Accounting Corporation.
The purpose is to secure funds for future growth investments through asset efficiency. SK Gas retains a 51% stake, maintaining control.
Ulsan GPS operates an LNG/LPG combined cycle power plant and recorded net profit of 101.16 billion KRW in 2025.
[AI Comprehensive Analysis]This stake sale is a strategic move that provides SK Gas with substantial cash while retaining control. The fair valuation suggests a positive impact on financial health and investment capacity. However, the loss of 49% of subsidiary earnings to non-controlling interests may reduce consolidated net income, so investors should monitor the long-term earnings contribution.
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Transfer of Stocks and Investment Securities of Other Corporations)