KKR has entered into an agreement to acquire South Korean energy company SK E&S’s newly issued redeemable convertible preferred shares (RCPS).
SK E&S is a member of the SK Group, one of South Korea’s largest conglomerates. SK E&S engages in a range of businesses, including upstream interests, such as overseas gas field development, and downstream instreams, such as power generation, district energy and city gas. SK E&S is planning to accelerate its growth to become a leading global clean-energy solution provider by focusing on hydrogen, renewable energy and related energy solutions.
The transaction marks KKR’s second investment in SK E&S through the purchase of newly issued RCPS, following an initial investment in November 2021. SK E&S used that investment to accelerate its growth and transformation into a global clean-energy solutions provider. According to SK E&S, the company is now looking to secure liquidity to de-lever, as well as
