SK Lubricants talks fall apart, but IPO to proceed as planned

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SK Lubricants talks fall apart, but IPO to proceed as planned

SK Innovation said on Monday that talks to sell SK Lubricants to a potential buyer have fallen apart during negotiations.

SK Lubricants is owned 100 percent by SK Innovation, and the potential buyer was widely known to have been MBK Partners, a local private equity fund.

SK Lubricant’s IPO is expected to proceed as planned. SK Innovation CEO Chung Chul-khil had said last month that it planned to list Lubricants within the second half this year.

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