이 기사는 2021년 08월 05일 06시27분 thebell에 표출된 기사입니다

SK Innovation, which is selling a minority stake in its wholly-owned subsidiary SK Global Chemical, will shortlist bidders soon, with three or four domestic and foreign private equity (PE) firms expected to be picked.

JP Morgan, which is managing the sale process, is expected to shortlist candidates and notify them soon, industry sources said Tuesday. The sale manager is evaluating detailed terms and conditions offered by candidates, including prices.

“Marketing campaigns had been conducted towards major PE firms until recently, and the shortlisted bidders will be announced soon,” said an industry source. “The selection of shortlisted candidates, which has already been delayed, may be pushed back to next week again.”

SK Innovation started a sale process for an around 49% stake in SK Global Chemical in February. The move is part of the company’s efforts to reduce its exposure to petrochemical business and increase its investments in eco-friendly businesses, including battery.

SK Innovation reporteldy intends to continue to hold more than 50% of SK Global Chemical to retain the management rights.

SK Global Chemical is Asia’s largest and the world’s third largest aromatic product maker. The aromatic market is where oil refiners are aiming to enter. The company recorded revenue of 8.47 trillion won ($7.4 billion) on a consolidated basis in 2020. (Reporting by Ha-na Suh)