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Dell Family Foundation to Acquire Shares in SK Corporation
Choi Tae-won, Chairman of SK Group, has agreed to sell shares of SK Corporation to a fund associated with Michael Dell's family, founder of Dell Technologies. The transaction, reported by the Seoul Economic Daily, involves the sale of 972,493 shares, representing 1.34% of SK Corporation's total share capital, for 544 billion Korean won. The buyer is DFO Public Investments, L.P., a fund based in Delaware, USA, managed by DFO Management, which oversees the Dell family's assets.
The agreement, signed on October 2, is part of a larger plan by Choi Tae-won to sell a total of 1,653,924 shares of SK Corporation, raising 944 billion Korean won. This move is intended to fund a property division with Ryu Soo-young, curator of the Nabi Art Center. In addition to the shares sold to DFO, 681,431 shares were sold to Korea Investment & Securities, with a three-year equity return swap in place for those shares.
SK Corporation has previously indicated that the buyer was a strategic investor but did not disclose further details about the private transaction. Dell Technologies, which specializes in artificial intelligence servers and data center infrastructure, has existing business relationships in the semiconductor sector with SK Hynix.
Source: KLEA News