Sweden's EQT Partners looking to buy large stake in SK shieldus

A cyber security center at SK shieldus office in Pangyo, Gyeonggi [SK SHIELDUS]

EQT Partners, a Swedish private equity firm, is in discussion with a Macquarie Korea Asset Management-led consortium to buy a sizable stake in SK shieldus, Korea’s top security company, in a deal that could fetch around 2 trillion won ($1.4 billion).

SK Square, the largest shareholder of SK shieldus with a 63.13 percent stake, noted that a discussion is underway following reports that the Swedish investment firm is eyeing a 36.87 percent stake held by the consortium. Local media outlets estimate the value of the acquisition at around 2 trillion won.

“For the future growth of SK shieldus, we are securing new investment,” SK Square said in a statement. “We will actively communicate with interested parties on further details, going forward.”

A spokesperson at SK Square, however, declined to confirm the size of the deal, adding that the sales process is ongoing.

If the reports prove to be true, EQT will be the second largest shareholder.

EQT Group has about $90 billion in assets under its management, and its main shareholder is Investor AB, the investment vehicle of the Wallenberg family, an influential Swedish business dynasty.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]