SK Group chairman to sell SK Inc. stake to fund tied to Michael Dell's family

what happened

According to Seeking Alpha, SK Group chairman Chey Tae-won has agreed to sell roughly 1.34% of SK Inc., the group's holding company, to an investment fund linked to Michael Dell, founder of Dell Technologies. The buyer, DFO Public Investments, is run by DFO Management, which manages the Dell family's assets. The 544 billion won ($406 million) deal forms part of Chey's plan to raise 944 billion won through share sales to pay a divorce settlement with his former wife, Roh Soh-yeong.

Under the arrangement, Chey will sell 1.65 million shares, about 2.26% of SK Inc. A further 681,431 shares, or 0.94%, go to Korea Investment & Securities for 400 billion won. The report also points to business links between Dell Technologies and SK Hynix, the group's memory chipmaker that supplies high-bandwidth memory for AI infrastructure.

why it matters

The deal draws attention because of SK Hynix's ties to Dell, but the buyer is a separate investment fund rather than Dell Technologies itself, and its investment objectives have not been confirmed. For markets, the main point is that a sizeable block of the holding company changes hands while the seller raises cash for the divorce settlement.

instruments