Affinity Equity Partners (Carina) acquires 100% of SK Rent-a-car for KRW 820bn
- Deal value
- $566m
- Stake
- 100%
- Implied 100%
- $566m
- Revenue
- $967m
- Op. income
- $84m
- Multiples
- EQV/EBIT 6.7xPSR 0.6x
Deal value ÷ stake (structure unconfirmed)
2023 연결 · DART-verified
2023 연결 · DART-verified
On implied equity value
DART 20240318000908
- Target
- SK Rent-a-car · Car rental
- Buyer
- Affinity Equity Partners (Carina) · FI
- Seller
- SK Networks
- Structure
- —
- Announced
- Jun 20, 2024
- Closed
- Aug 20, 2024
- Stage
- Closed
Target
SK Rent-a-car is a long- and short-term vehicle rental company, ranked second in Korea behind Lotte Rental. SK Networks formed it after acquiring AJ Rent-a-car in 2019; it posted revenue of KRW 1.4028 trillion and operating profit of KRW 122 billion in 2023.
Deal rationale
Per Hankyung Business, SK Networks sold the unit as part of SK Group's restructuring, designating AI as its new growth area and raising funds for corporate innovation. Affinity said it would retain all employees and raise value through investment; per Etoday it planned a B2C shift toward individual business owners and consumers and a 'car-life management' brand.
| Revenue | $967m |
| Operating income | $84m |
| EBITDA | — |
| Net income | — |
2023 연결 · DART-verified · 20240318000908
Press coverage
- 한경비즈니스 (2024-06-20): “SK네트웍스는 이날 이사회를 열어 자회사 SK렌터카의 지분 100%를 8200억원에 어피니티에 양도하는 안건을 의결했다.”
- 딜사이트 (2024-06-20): “SK네트웍스는 이사회를 열고 자회사인 SK렌터카 지분 100%를 어피니티에 8200억원에 양도하는 안건을 의결했다고 20일 밝혔다.”
- 딜사이트 (): “멀티플은 롯데렌탈과 유사한 4.7배로 나타났다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.