SK Signet’s market capitalization, however, stands at just 87.5 billion won, leaving the value of SK Group’s stake holding at about 55 billion won.“This is a textbook case of SK’s pragmatic rebalancing in action,” said a Seoul-based investment banker.“They are clearly signaling that they won’t cling to underperforming assets, even if it means losses.”The decision also mirrors SK’s recent move to sell its semiconductor wafer subsidiary SK Siltron Co.
The EV charging sector, in particular, has become increasingly commoditized, triggering SK Group to streamline its holdings and concentrate resources on higher-margin businesses.“SK is moving away from its previous all-in approach in EVs and batteries,” said an industry analyst.“They are now being more selective, divesting parts of the value chain that don’t deliver enough strategic or financial upside.”SK Group is also proceeding with the sale of Renewus Co.and Renewone Co., two waste treatment affiliates acquired by SK Ecoplant Co.in 2020, as it accelerates the clean-up of its sprawling portfolio.
South Korea’s second-largest conglomerate SK Group is seeking to divest SK Signet Inc., four years after acquiring the EV charger manufacturing business, as part of its sweeping portfolio rebalancing strategy that prioritizes pragmatism over sunk costs.
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