SK Rent-a-Car Jeju branch (photo = SK Rent-a-Car homepage)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] According to a report by Chosun Biz on the 26th, SK Networks is looking into the possibility behind the scenes to sell its stake in SK Rent-a-Car. It is heard that UBS has been selected as the sales manager.

SK Rent-a-Car was created in 2018 when SK Networks acquired a 42% stake in the former AJ Rent-a-Car for 300 billion won. Currently, SK Networks is the largest shareholder with a 93.59% stake.

In August last year, SK Networks, which held a 72.9% stake in SK Rent-a-Car, made a public offering to incorporate SK Rent-a-Car into a 100% subsidiary. A total of 120 billion won was spent on the tender offer.

SK Rent-a-Car is a subsidiary of SK Networks that acts as a 'cash cow'. Sales reached KRW 1.4028 trillion last year, up 12.5% from a year earlier. Operating profit rose 28.3% year-on-year to 121.9 billion won.

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