Sale Amount 95 Billion Won... Completion by February Next Year
SKC is selling the thin film business of its secondary battery materials investment company SK Nexilis to the private equity firm Apolloma Capital.
On the 13th, SK Nexilis held a board meeting and decided to transfer the thin film business supplying FCCL materials for displays to Apolloma Capital for 95 billion KRW. Immediately after the board meeting, the two companies signed a business transfer agreement with these terms. SK Nexilis plans to complete the transaction by February next year after completing the necessary procedures.
FCCL is a core electronic material that transmits video signals in display products such as smartphones and TVs, and is widely used in display COF (Chip On Film).
Apolloma Capital, which is acquiring SK Nexilis's thin film business, has strengths in a carve-out strategy that involves acquiring non-core business units of large corporations and enhancing corporate value. It is expected that the competitiveness of the thin film business will be further strengthened through additional investments after the acquisition.
SKC has prioritized strengthening financial soundness this year and has been promoting timely liquidity of non-core businesses. Through this, it secured over 1 trillion KRW in cash, reducing the financial burden on its investment companies. In September, it also repaid the entire acquisition financing by supporting a 700 billion KRW paid-in capital increase for SK Nexilis.
SKC is also accelerating the restructuring of its business centered on high value-added products, including Absolix glass substrates. The glass substrate business is moving forward with the goal of mass production for customers next year, and it is also focusing on strengthening competitiveness in semiconductor materials business, led by semiconductor test solution company ISC.
An SKC official said, "The proceeds from the transfer of the thin film business will be used as resources to strengthen the competitiveness of our core business," adding, "We will continue efforts to improve financial soundness through the sale of non-core businesses and prepare for a full-scale rebound after next year."
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