SK ecoplant sells stake in battery maker Ascend Elements
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SK ecoplant, the construction arm of Korea's chip-to-battery conglomerate SK Group, said Monday that it had sold its entire stake in U.S. battery recycling company Ascend Elements.
The company sold its 9.22 million stocks to the Seoul-based private equity firm SKS PE for 131.6 billion won ($98 million).
SK ecoplant had invested $60.8 million in the stocks, which currently account for 7.7 percent of the U.S. firm's 119.76 million outstanding shares, between 2022 and 2023, according to the company's statement.
