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SK Innovation Acquires Coil BESS for 1.29 Billion Won

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SK Inc. (KRX:034730) said its subsidiary SK Innovation (KRX:096770) added Coil BESS as a wholly owned subsidiary after acquiring a 100% equity stake in the energy storage systems company for 1.29 billion won, according to a Wednesday filing with the Korean Exchange.

The acquisition, completed through a share purchase agreement, included a 658 million won payment for the shares and 632 million won for loan receivables and related rights, which will be converted into equity.

The transaction increases its total number of subsidiaries to 30.

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