Dell Family Office Buys $406M SK Inc Stake From Chairman Chey
DELL has more than doubled off its 52-week low of $110.22.
Summary
SK Group Chairman Chey Tae-won sold approximately 2.26% of SK Inc. in total, including 972,493 shares to DFO Public Investments, a fund linked to Michael Dell's family office and managed by DFO Management, for 544 billion won, and 681,431 shares, representing 0.94% of SK Inc., to Korea Investment & Securities for 400 billion won. The sale is part of Chey's plan to raise 944 billion won to pay a divorce settlement with his former wife Roh Soh-yeong. The buyer is a Dell family investment fund, not Dell Technologies itself, though Dell has business ties with SK Hynix. The Korea Corporate Governance Forum raised concerns that the fund could be deemed a joint holder with Chey under South Korean law, potentially requiring disclosure. This is a notable cross-border investment by the Dell family office into a major Korean conglomerate, but it does not directly involve Dell Technologies' balance sheet or operations.
Updated with a Seeking Alpha report · What changed
Updates
· Seeking Alpha — The sale includes 972,493 shares to the Dell-linked fund for 544B won and 681,431 shares to Korea Investment & Securities for 400B won.
- Share Sale Details — Chey agreed to sell approximately 2.26% of SK Inc. in total. The 681,431 shares sold to Korea Investment & Securities represent 0.94% of SK Inc.
- Fund Management — DFO Public Investments is managed by DFO Management.
- Divorce Settlement — Chey's former wife is Roh Soh-yeong.
All 4 details
- Chey agreed to sell approximately 2.26% of SK Inc. in total.
- The 681,431 shares sold to Korea Investment & Securities represent 0.94% of SK Inc.
- DFO Public Investments is managed by DFO Management.
- Chey's former wife is Roh Soh-yeong.
At the time of this announcement, DELL was trading at $572.05 on NYSE in the Technology sector, with a market capitalization of approximately $364B. The 52-week trading range was $110.22 to $595.51. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.