EQT Infrastructure VI, managed by EQT AB completed the acquisition of unknown majority stake in SK shieldus Co., Ltd. from SK Square Co., Ltd. and Macquarie Infrastructure and Real Assets.
July 19, 2023
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EQT Infrastructure VI, managed by EQT AB (publ) agreed to acquire unknown majority stake in SK shieldus Co., Ltd. from SK Square Co., Ltd. and Macquarie Infrastructure and Real Assets for KRW 2 trillion on March 1, 2023. EQT bought part of the shares owned by SK Square and the entire stakes 36.9% held by Macquarie Infrastructure and Real Assets. Following the closing of the transaction, EQT Value-Add Infrastructure will own 68 percent in SK Shieldus, while its current shareholder, SK Square will remain as a minority shareholder with 32 percent. EQT also acquired new shares of SK shieldus to become the largest shareholder(68.0%) of the company. The Company will be supported by a new Board of Directors, with a combination of EQT?s Industrial Advisors, with backgrounds in leading security companies in Europe and North America, as well as prominent Korean business leaders.
The transaction is subject to customary conditions and approvals, including approval under the Foreign Investment Promotion Act. It is expected to close in Q3 2023. In cooperation with EQT, SK Square plans to go through Korea Fair Trade Commission?s M&A review and other governmental permission procedures by the 3rd quarter of 2023. As of May 10, 2023, the transaction is approved by European Commission. As of July 20, 2023, SK Square Co., Ltd. sold it's stake in SK shieldus Co., Ltd. to EQT Infrastructure VI, managed by EQT AB (publ).
Standard Chartered Bank acted as financial advisor, Kim & Chang acted as legal advisor, PricewaterhouseCoopers International Limited acted as accountant and PricewaterhouseCoopers AB, Investment Banking Arm acted as financial advisor to EQT AB (publ) (OM:EQT). Morgan Stanley (NYSE:MS) acted as financial advisor to SK shieldus and SK Square. Credit Suisse acted as the sell-side financial advisor to SK square. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to SK Square Co., Ltd. Taner Hassan of Clifford Chance LLP acted as legal advisor for EQT Infrastructure VI.
EQT Infrastructure VI, managed by EQT AB (publ) completed the acquisition of unknown majority stake in SK shieldus Co., Ltd. from SK Square Co., Ltd. and Macquarie Infrastructure and Real Assets on July 20, 2023.
SK Square Co Ltd is a Korea-based company primarily engaged in investment business. The Company operates through five segments. The Investment Business Segment invests in the semiconductor and information and communication technology fields and has SK Hynix Inc as a subsidiary. The Security Business Segment provides unmanned security and human security services and develops system software. The Commerce Business Segment engages in e-commerce and Internet-related businesses. The Platform Business Segment operates information communication and internet platform services. The Other Business segment provides music services and content distribution, advertising, and transportation brokerage.
EQT Infrastructure VI, managed by EQT AB completed the acquisition of unknown majority stake in SK shieldus Co., Ltd. from SK Square Co., Ltd. and Macquarie Infrastructure and Real Assets.
SK SQUARE CO., LTD. 
