Hahn & Company acquires 31.27% of SK D&D for KRW 74.2bn

FI Real Estate Real estate development
Deal value
$51m
Stake
31.27%
Implied 100%
$164m

Deal value ÷ stake (structure unconfirmed)

Revenue
$307m

2025 연결 · DART-verified

Op. income
$26m

2025 연결 · DART-verified

Multiples
EQV/EBIT 6.3xPSR 0.5x

On implied equity value

DART 20260317000411

Target
SK D&D · Real estate development
Buyer
Hahn & Company · FI
Seller
SK Discovery and minority shareholders (tender offer)
Structure
—
Announced
Oct 1, 2025
Closed
Aug 11, 2026
Stage
Closed

Target

Listed real estate developer operating the residential brand 'Episode'; its renewable energy and ESS business was spun off as SK Eternix in March 2024 (Herald Economy, G-Economy).

Deal rationale

Per KED Global, SK Discovery sold its entire 31.3% stake (held 50:50 with Hahn & Co since 2018) at KRW 12,750 per share (KRW 74.2bn) as part of shedding non-core assets to focus on green materials, energy and biotech. Hahn & Co said delisting SK D&D via a tender offer for the remaining 37.4% at the same price would maximize long-term corporate value (KED Global, Herald Economy). Per Aju Economy, after two tender offers Hahn's stake reached only the 77% range and the delisting did not proceed.

공개매수·상장폐지사업 재편·비핵심 매각
Revenue$307m
Operating income$26m
EBITDA—
Net income—

2025 연결 · DART-verified · 20260317000411

Press coverage

  • 딜사이트 (2025-10-01): “매매대금은 742억원 규모다.”
  • 헤럴드경제 (2025-10-03): “이번에 한앤코는 SK디스커버리가 소유 중인 지분 역시 공개매수가와 동일하게 사들인다.”
  • KED Global (2025-10-01): “transfer 5.82 million shares at 12,750 won each to Hahn & Co.”
  • 지이코노미 (2025-10-07): “SK디앤디 보통주 582만1751주, 지분율 31.3%… 742억 원, 주당 1만2750원”
  • 아주경제 (2026-08-06): “상폐 무산 뒤 240% 유증”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.