70.6% Stake in SK Inc. Up for Grabs; Multi-Trillion Won Price Tag
Doosan Joins Bidding After Private Equity Firms; Price Negotiations Key
Doosan Eyes Semiconductors Following Tesna Post-Processing Test Acquisition
It has been confirmed that Doosan Group has entered the race to acquire SK Siltron, the world's third-largest semiconductor wafer manufacturer.
According to industry sources on October 1, SK is in negotiations with Doosan as it seeks to sell its 70.6% controlling stake in SK Siltron. The remaining 29.4% stake in SK Siltron is owned by SK Group Chairman Chey Tae-won. SK Group has been pursuing the sale of SK Siltron as part of a business portfolio rebalancing strategy. Previously, private equity firms such as MBK Partners and Hahn & Company had emerged as potential buyers, but negotiations stalled due to disagreements over price.
The industry estimates SK Siltron's enterprise value at around 5 trillion won. However, after deducting approximately 3 trillion won in debt, the actual transaction amount could be around 1.5 trillion won. The agreement on price is considered the key factor that will determine the success or failure of the negotiations. It is reported that SK is seeking a sale price of at least 3 trillion won.
Doosan's participation is seen as aligning with the group's new growth strategy. Doosan has reportedly identified semiconductors, along with small modular reactors (SMRs) and robotics/AI, as future growth engines. In 2022, Doosan expanded its semiconductor business by acquiring Tesna, a semiconductor post-processing test company, for 460 billion won.
Meanwhile, Doosan was previously mentioned as a potential bidder for SK Siltron in April, but at the time, the company dismissed the reports as "groundless" through an official disclosure.
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