Hahn & Co., a prominent private equity firm in Korea, is in the process of acquiring SK Specialty, a gas supplier within SK Group, one of the country's leading conglomerates, for an estimated 4 trillion won ($3.05 billion). SK Inc., the group's holdings company, revealed in a regulatory filing that Hahn & Co. has been selected as the preferred bidder for SK Specialty. The plan is for SK to sign a stock purchase agreement with the bidder before the end of the year, following discussions on deal terms and conducting due diligence. SK intends to retain a portion of its ownership in SK Specialty due to the synergy it offers with the group's semiconductor business. SK Specialty, previously known as SK Materials, is a key producer of special gases essential in the manufacturing processes of semiconductors, liquid-crystal displays, and solar cells. It is a major global supplier of nitrogen trifluoride, a critical material for chip production, holding a 40 percent share of the global market. Speculations arose in August about SK selling its gas unit to a private equity firm as part of its efforts to streamline the group's affiliates for improved efficiency. Hahn & Co. has been mentioned as a likely bidder due to its close relationship with the group and its history of acquiring stakes in various SK companies in recent years. SK Specialty has consistently reported yearly profits exceeding 100 billion won, with sales of 355 billion won and operating profit of 54 billion won in the first half of this year. The sale of SK Specialty is expected to help SK expedite its restructuring plans, focusing on growth areas such as semiconductors and secondary batteries. In other recent transactions, SK Group divested its stake in Vietnamese retailer WinCommerce to Masan Group, generating 270 billion won in cash flow. Additionally, SK Networks sold its ownership in SK Rent-a-Car to Affinity Equity Partners for 820 billion won, while SK Ecoplant realized over $98 million by selling its stake in American battery recycling firm Ascend Elements to Seoul-based private equity firm SKS PE.