South Korea’s SK On has raised about 2 trillion won ($1.51 billion) from private equity firms, pushing the electric vehicle (EV) battery maker’s valuation to around 20 trillion won as it works to expand production abroad, local media reported on Thursday.
The battery unit of energy group SK Innovation Co Ltd has been in talks with a local private equity consortium which includes EastBridge Partners, Korea Investment Partners, and Stella Investment, the Korea Economic Daily newspaper said, citing unidentified investment banking sources.
