SK Telecom Negotiates AI Data Center Stake Sale Worth 2 Trillion Won
SK Telecom is finalizing a minority stake sale of its Ulsan AI data center, targeting completion of the deal by March. The consortium, including KKR, IMM Investment, and Stonebridge Capital, will acquire up to 49% of the facility, valued at mid-2 trillion Korean won.
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SK Telecom is in advanced negotiations to sell a minority stake in its Ulsan AI data center, aiming to sign a stock purchase agreement (SPA) by the end of this month. This transaction involves selling up to 49% of the facility for approximately mid-2 trillion Korean won, with KKR acquiring 29% and the IMM Investment-Stonebridge consortium purchasing the remainder.
The financing for the consortium is supported by Shinhan Bank and Shinhan Securities, while KKR plans to utilize its own resources. This strategic move includes domestic investors to enhance national ownership of critical AI infrastructure. Completion is targeted for 2029, with the center expected to be the largest AI hub in Northeast Asia, capable of 100MW.
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