SK Group chairman to sell 1.34% stake to Dell family office fund
Mario Tama/Getty Images News
SK Group Chairman Chey Tae-won has agreed to sell a 1.34% stake in SK Inc., the conglomerate’s holding company, to an investment fund linked to Dell Technologies (DELL) founder Michael Dell for 544B won ($406M).
The buyer, DFO Public Investments, is managed by DFO Management, which oversees the Dell (DELL) family’s assets. The transaction is part of Chey’s plan to raise 944B won through share sales to fund a divorce settlement with his former wife, Roh Soh-yeong.
Chey agreed to sell 1.65M shares, representing approximately 2.26% of SK Inc. Under the arrangement, 972,493 shares will be sold to the Dell-linked fund for 544B won, while 681,431 shares, or 0.94%, will be sold to Korea Investment & Securities for 400B won.
The deal also draws attention to the business ties between Dell Technologies and SK Hynix (SKHY), SK Group’s memory chipmaker and a supplier of high-bandwidth memory used in AI infrastructure. However, the buyer is a separate investment fund, not Dell Technologies (DELL) itself, and the fund’s investment objectives have not been confirmed.
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