[Alpha Biz= Reporter Kim Jisun] SK Ecoplant is planning to sell its stake in the U.S. battery recycling company Ascend Elements, which it invested in back in 2022.

According to the construction industry on the 30th, SK Ecoplant has decided to sell approximately 13% of its stake in Ascend Elements and is currently searching for potential buyers. SK Ecoplant acquired this stake through a $60.84 million investment in 2022.

The decision to sell the stake is attributed to the significant increase in Ascend Elements' corporate value in recent times. Analysts note that the company's value has risen three to four times compared to when SK Ecoplant initially invested in 2022.

SK Ecoplant is expected to use the liquidity gained from the stake sale to improve its financial structure.

 

 

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