SK Discovery Co., an investment arm of South Korea’s SK Group, said Wednesday it has sold its entire stake in real estate affiliate SK D&D to private equity firm Hahn & Company.
The deal includes over 5.8 million shares, accounting for SK Discovery’s full 31.3 percent interest, with a transaction value of around 74.2 billion won ($52.7 million).
According to SK Discovery, the stake sale reflects SK Group’s portfolio reshaping drive, under which the group seeks to secure 80 trillion won by 2026 and channel over 100 trillion won into growth engines, including AI and semiconductors. The investment unit said it will concentrate on its core areas of green materials, energy and biotechnology, while continuing to explore additional opportunities for expansion.
SK D&D, a real estate development and operations firm, had been jointly managed by SK Discovery and Hahn & Company since 2021, when SK Discovery acquired SK Gas’ entire stake. Each firm held 31.3 percent of the company.
SK D&D focuses on real estate development across office buildings, residential complexes, multi-purpose industrial complexes and hotels. It reported revenue of 870.9 billion won and operating profit of 53.7 billion won last year. In the second quarter, its operating profit surged 13-fold year-on-year to 33.5 billion won as the property market showed signs of recovery.
SK Discovery noted that it will continue to cooperate with SK D&D as a business partner even after the transaction.
“This deal is part of our ongoing efforts to enhance SK Discovery’s portfolio competitiveness and prepare for the future,” stated an SK Discovery official. “We will continue to seek diverse opportunities to increase shareholder value and secure new growth drivers, meeting the expectations of our shareholders and other stakeholders.”
hyejin2@heraldcorp.com
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