STIC Alternative / Korea Investment PE consortium to acquire 49% of SK Multi Utility (49% stake) for KRW 371bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $256m
- Stake
- 49%
- Implied 100%
- $522m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- SK Multi Utility (49% stake) · Combined heat and power / district energy
- Buyer
- STIC Alternative / Korea Investment PE consortium · FI
- Seller
- SK Chemicals
- Structure
- —
- Announced
- Apr 3, 2026
- Closed
- —
- Stage
- Signed
Target
SK Chemicals subsidiary operating combined heat and power / district energy supplying electricity (and heat) in the Ulsan area (Herald Economy, Seoul Economic Daily).
Deal rationale
Per Seoul Economic Daily, SK Group pursued minority stake sales in SK Multi Utility and Ulsan GPS ahead of an AI data center investment in Ulsan, retaining 51% and largest-shareholder status. SK Gas, in its same-day disclosure for the Ulsan GPS 49% sale (KRW 1.2242tn), stated the purpose as 'securing funds for future growth investment through asset efficiency' (Money Today). The buyer is the SPC Stic-Hantu Infra PEF formed by Stic Alternative and Korea Investment PE; the two deals total KRW 1.5952tn (Herald Economy).
Press coverage
- 헤럴드경제 (2026-04-06): “SK케미칼은 열병합발전 사업을 영위하는 SK엠유 지분 49%를 3710억원에 스틱·한투인프라PE 컨소시엄에 넘기기로 했다.”
- 서울경제 (2026-04-06): “매각 대금은 3710억 원으로 울산GPS 대금을 합하면 1조 5952억 원이 된다.”
- 머니투데이 (2026-04-06): “자산 효율화를 통한 미래 성장 투자 재원 확보”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.