SK and Enron Will Set Up a Holding Company
SK Group will set up a holding company with Enron of the United States early next year that will be worth over 600 million dollars.The holding company will ultimately have management authority over its various subsidiaries. This will be the first time in Korean history that a holding company is established.
SK Group will hold more than 50% of the equities in the company if the law on holding companies is revised and Enron will invest roughly $300 million.
A source at SK Group said, ' Based on this infusion of foreign capital, the financial state of SK Group will be clearly improved. SK will invest the foreign capital into the newly invested LNG business.'
with the Korea JoongAng Daily
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