News Formal

SKorea's SK Innovation and SK E&S to pursue merger

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 16 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 38%
  • Publisher: 92%

Skorea's News

SK,Innovation,And

Shares in SK Innovation rose more than 10 percent on Thursday morning.

SEOUL ― South Korea's SK Innovation, parent of the country's largest oil refiner and battery maker SK On, is expected to pursue a merger with energy affiliate SK E&S, resulting in a 106 trillion won asset company, a South Korean newspaper reported on Thursday.

The merger, which company executives are expected to decide on in late June pending shareholder approval, is partly to shore up loss-making battery maker SK On by combining with a profitable company that has a stronger balance sheet, newspaper Chosun Ilbo reported, citing unnamed industry sources.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SKorea Samsung workers stage first strikeSEOUL — Workers at tech giant Samsung Electronics in South Korea staged the first strike at the company on Friday, the head of a major union representing tens of thousands of people told Agence France-Presse (AFP).
Source: TheManilaTimes - 🏆 2. / 92 Read more »