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New Deal


Announced

Completed

SK Group completed the acquisition of a 10% stake in Plug Power for $1.5bn.

Financials

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Transaction Value£1,108m
Consideration TypeCash
Capital Owned-
Capital Bid For10%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Friendly

United States

fuel cell systems

Acquisition

Cross Border

Renewable Energy Equipment

Minority

hydrogen fuel systems

Public

Completed

Synopsis

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SK Group, a holding company, completed the acquisition of a 10% stake in Plug Power, a provider of hydrogen fuel cell and fueling solutions, for $1.5bn. “This partnership between Plug Power and SK will bring significant and solid opportunities in the hydrogen industry, creating value to society. SK Group is focusing and actively investing into the ESG sector and Plug Power would be one of our splendid footprints within this strategy,” Hyeongwook Choo, SK Group Head of Hydrogen Business Development Center.

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