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SK E&S to sell 49 pct stake in power company to Thai utility EGCO

기사승인 2018.11.15  10:01:28

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SK E&S Co., a South Korean power generator, said on Nov. 14, 2018 that it will sell a 49 percent stake in Paju Energy Service Co., the operator of a natural-gas power plant near Seoul, to Thai utility EGCO for 885.2 billion won (US$779.1 million).

SK E&S Co. said it will use the proceeds from the sale to finance a planned natural gas power plant and renewable projects in South Korea.

SK E&S said it plans to sign a deal with EGCO later this month. The deal is set to be completed by March next year.

EGCO made a similar announcement in Bangkok.

After the sale, SK E&S said it will hold a 51 percent stake in Paju Energy Service Co. (Yonhap)

Uhm Jin-ho edt@koreapost.com

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