KKR in $235 Million SK Eternix Deal as Iran War Roils Markets

KKR & Co. will acquire a 348 billion won ($235 million) stake in South Korean renewable energy firm SK Eternix Co., stepping up its climate and environmental investments and underscoring its appetite for dealmaking despite market volatility stemming from the Iran war.

The US buyout firm is purchasing a combined 43.5% stake in SK Eternix from SK Discovery Co. and local private equity firm Hahn & Co., according to a statement Friday by SK Discovery. SK Eternix is part of the SK Group conglomerate, which owns one of the world’s biggest chipmakers SK Hynix Inc.