In today’s briefing:
- Supreme Court Overturns a Lower Court Ruling for the Divorce Case Chey Tae-Won and Roh So-Young
- LS Group Family Members Sold a 6.3% Stake in LS Ecoenergy – To Buy More Shares of LS Corp?
Supreme Court Overturns a Lower Court Ruling for the Divorce Case Chey Tae-Won and Roh So-Young
- The long-standing divorce case between SK Group Chairman Chey Tae-won and his estranged wife Roh So-young refuses to end.
- Rather, the Supreme Court of Korea overturned a lower court ruling that ordered Chey Tae-won to pay 1.38 trillion won ($973 million) to Ro So-young.
- Our NAV valuation of SK Inc suggests implied market cap of 25.8 trillion won or target price of 355,918 won per share, which is 63% higher than current levels.
LS Group Family Members Sold a 6.3% Stake in LS Ecoenergy – To Buy More Shares of LS Corp?
- It was reported that various members of the LS Group family/relatives sold a 6.3% stake in LS Eco Energy Ltd (229640 KS) for about 70 billion won in after-hours trading.
- There is an increasing probability that this could lead to these insiders purchasing more shares of LS Corp to defend their controlling stake of the company from the Hoban Group.
- Hoban Group is likely to have acquired more than 3% stake in LS Corp. If so, it can request to inspect LS Corp’s books and convene a shareholders’ meeting.
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