Corporate Finance

SK C&C – SK Holdings : $25bn to get closer

The merger of the parent company with its listed subsidiary aims to reinforce the synergies between the two and to clean up target’s balance sheet.

The merger of the parent company with its listed subsidiary aims to reinforce the synergies between the two and to clean up target’s balance sheet.


SK C&C, the south Korean public listed company specialized in IT services, has just agreed to merge with SK Holdings for a sum of approximately €25bn. The absorbing company, SK C&C, is nothing else than the target’s parent. Also listed, SK Holdings is actively present in the sectors of refining, chemistry and transports. The operation lays on the issue of over 26 millions of new shares from SK C&C addressed to the absorbed company’s shareholders. The share swap is based on a 0,74 ratio. If the two entities decided to go together, it is first because they intend to make more transparent the structure of the group. Moreover, the transaction aims to reinforce the synergies between the two and to clean up target’s balance sheet.

F. S.

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