SK Innovation's shareholders approve merger with SK E&S, creating South Korea's largest energy company.

SK Innovation's shareholders have approved the merger with energy affiliate SK E&S, creating South Korea's largest energy company worth 100 trillion won ($75.2 billion). This restructuring aims to consolidate finances of SK On, the loss-making battery unit, by combining it with SK E&S which has a stronger balance sheet. The merger received over 85% approval from shareholders, with 95% of foreign shareholders also supporting it.

August 27, 2024
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