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Issue 13, 2021 - SK acquires 10% stake in Loop Industries

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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SK acquires Loop Industries

10% of the shares

According to recent news from foreign media, Loop Industries announced that it is ready to establish a strategic cooperative relationship
with SK Global Chemistry (SKGC) Co.
, Ltd.
, a subsidiary of South Korea's SK Group.
In the transaction, SK will acquire 4.
7 million new treasury common shares of Loop Industries for a total of $56.
5 million at a price of $12 per share.

Under the MOU, SKGC will own 51% of the joint venture and Loop Industries will own 48%.

It is reported that the preliminary discussions between the two sides are to consider starting preparations for the first facility in South Korea in the second half of 2022, and plans to build four facilities
in Asia in 2030.

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