SK Eternix is part of the SK Group conglomerate, which also controls semiconductor manufacturer SK Hynix. Shares in SK Eternix rose as much as 13.8% following news of the transaction, while SK Discovery gained as much as 5.2% in Seoul trading. SK Discovery said the divestment reflects the capital-intensive nature of renewable energy development, where projects require significant upfront investment and returns are typically generated gradually through long-term power sales. Separately, SK Discovery announced a shareholder return programme that includes the repurchase and cancellation of 60bn won of treasury shares over the next three years. The company plans to buy back approximately 20bn won this year and the remaining 40bn won over the following two years. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today.
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