이 기사는 2021년 04월 15일 08:11 thebell 에 표출된 기사입니다.

SK Lubricants is likely to name the new owner of its 49% stake in the near future, with its negotiations with prospective buyers reportedly approaching the finish line.

SK Group is reportedly negotiating detailed conditions of the deal with prospective buyers, industry sources said on Tuesday. Seller SK Innovation hasn’t announced the preferred bidder after receiving binding offers from four shortlisted bidders on March 12.

SK Lubricants had reportedly been in talks with shortlisted bidders privately even before final offers were submitted. This is unusual because shortlisted bidders normally conduct due diligence for 5~6 weeks before the final round of bidding takes place.

Market insiders widely expect final results to be announced soon as detailed terms and conditions are currently being discussed. If the negotiations make progress, the seller may skip the process of selecting preferred bidder or sign an agreement after having a very short exclusive negotiation period.

The deal is likely to accelerate as SK Innovation recently settled its battery dispute with LG Energy Solution.

IMM Private Equity (IMM PE) is considered one of the strongest candidates to win the race. It has a strong track record of investing in minority stakes in several companies, including Shinhan Financial Group, K bank and Hyundai Samho Heavy Industries.

If selected, IMM PE plans to invest through its first private credit fund, which was launched as IMM PE tries to diversify away from traditional buyout investments.

U.S.-based Apollo Global Management is considered another strong candidate. It is also said to have previously invested in the industrial lubricant sector.

ENEOS, formerly known as JXTG, has a longstanding partnership with SK Lubricants. The two companies built a joint venture plant in Ulsan in 2010 to produce lubricant base oil. ENEOS is the only strategic investor in the race.

Korea Investment Partners has a strong track record in venture capital and is growing its presence in private equity. (Reporting by Hee-yeon Han)