SK ecoplant has agreed to sell its entire 35.62% stake in SK Oceanplant to a consortium led by The Ocean Asset Management for KRW410bn ($299m).
The deal covers all 22.26m shares owned by SK ecoplant. The Ocean Asset Management will become SK Oceanplant’s largest shareholder after completion, with Osung Advanced Materials joining as a co-investor. The transaction is expected to close before the end of the year.
Based in Goseong, South Gyeongsang Province, SK Oceanplant specialises in offshore wind turbine substructures and also undertakes offshore plant and shipbuilding work.
SK ecoplant took control of Samkang M&T in 2022. The offshore fabricator was renamed SK Oceanplant in 2023.
The Ocean Asset Management said it plans to continue investing in SK Oceanplant’s offshore wind business after the transaction is completed. Its plans include expanding manufacturing operations in Goseong, including the company’s third yard, while maintaining local recruitment and cooperation with regional suppliers.
The sale follows SK ecoplant’s earlier move into offshore wind manufacturing through its acquisition of Samkang M&T. SK ecoplant said proceeds from the transaction will mainly be used to repay debt as it shifts its investment focus towards semiconductor and artificial intelligence infrastructure.
