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)