SK Group Chairman Chey Tae-won plans to sell SK Inc. shares worth 944 billion won (US$703 million) after the South Korean holding company said on October 2 that he was raising personal funds for an ongoing divorce-related legal dispute.

The sale covers 1,653,924 SK Inc. shares, equal to 2.3% of the company, and transactions are set to begin on November 2.

Of the total, 544 billion won (US$405 million) will be sold to strategic investors. The remaining 400 billion won (US$298 million) will be handled through a price return swap with securities firms, SK Inc. said.

The company said the sale amount matches the 944 billion won (US$703 million) property division that an appellate court ordered for Roh Soh-yeong, director of Art Center Nabi.

Chey appealed in August and limited the appeal to 244 billion won (US$181 million). The company said he will remain SK Inc.’s largest shareholder, and voting rights held with related parties will stay above 30%.

🔗 Source: Chosun Daily

Recent SK Inc. developments