[Asia Economy Reporter Yoon Ju Hwang] SK Innovation is reportedly preparing to sell a portion of its stake in its lubricating oil subsidiary, SK Lubricants.
According to industry sources on the 13th, SK Innovation recently selected Citigroup Global Markets Securities as the lead underwriter and is in contact with potential buyers.
SK Innovation currently holds 100% of the shares of SK Lubricants. It is said that the company plans to sell part of this stake to secure investment funds for new businesses such as batteries.
Meanwhile, SK Innovation is reviewing various options to secure funds for investing in new battery factories. In last month's earnings conference call, it officially announced plans for SK Innovation's subsidiary SK IE Technology (SKIET) to go public in the first half of the year, forecasting that it "will help improve the financial structure."
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