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SK Innovation’s sale of SK Lubricants

2021-07-30

SK Innovation executed a Share Purchase Agreement to sell its 40% of the issued and outstanding shares in SK Lubricants on April 28, 2021, and the transaction was successfully closed for an aggregate purchase price of KRW 1.2 trillion. Lee & Ko played an instrumental role in advising SK Innovation which led to a successful result.

 

This transaction was extremely important for SK Innovation in terms of financing and enhancing the ESG management. It was a remarkable large-scale transaction which received high attention for its transaction value and size of the target company.

 

This transaction was noteworthy because a number of financial and strategic investors who participated in the bidding were given the opportunity to simultaneously conduct due diligence on the target company. Based on the due diligence process and the key terms that were provided by the various bidders, SK Innovation conducted negotiations with each bidder. A considerable amount of expertise and competence was required to successfully complete such negotiations, which was effectively provided by Lee & Ko. This transaction also required various key terms to be discussed between SK Innovation and the new investor for the future management of the target company including a future IPO in order to effectively reconcile the interests of the parties.

 

Lee & Ko has extensive M&A experience and expertise accumulated through years of experience, and is equipped with the capability to conduct various legal reviews ranging from due diligence and bidding, negotiation and contract preparation, as well as negotiating with bidders.

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Corporate Energy & Natural Resources Mergers & Acquisitions
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