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SK Group buys back the office building in Seorin-dong, Jongno-gu, which it sold to an investment bank in the United States 15 years ago.
According to industry sources on the 30th, SK Corp. expressed its intention to use the priority purchase right (call option) for Seorin Building mid-month at Hana Alternative Investment Management.
The exercise price of the preferred purchase right is known to be around 39 million won per 3.3 square meters suggested by Aegis Asset Management, which was selected as the preliminary preferred negotiator.
Considering that the total area of the Seorin Building is 83,801 m2, the acquisition price is estimated at around 990 billion won.
As the SK Group decided to exercise the right to purchase, Aegis Asset Management’s acquisition of Seorin Building was canceled.
In the sector, SK is expected to use REITs (real estate investment company) after the acquisition of Seorin Building.
As a result, the Ministry of Land, Infrastructure and Transportation is expected to require a preliminary license for REITs Asset Management Company (AMC) and then subsequently begin recruiting investors through the process.
An SK Corporation official said: “There is no set of procedures for the future and we are currently looking at it in various directions.”
Previously, SK Group sold the Seorin building to Bank of America (BoA) Merrill Lynch for approximately 450 billion won in 2005 to secure the fund for the Incheon Oil Refinery acquisition, and has since leased and used the Seorin building.
The SK Serene Building, with 7 underground floors and 35 floors above ground, is occupied by major branches such as SK Holdings, SK Innovation and SK E&S.
In particular, it is a building that the late President Choi Jong-Hyun, the elder of President Choi Tae-won, enthusiastically erected during his lifetime to bring together the affiliates of the group scattered throughout Yeouido and Euljiro. It is a symbolic place for SK Group.
The lease for the SK Group’s Seorin building will expire in March next year.
/ news yunhap
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