SK Holdings and e-Shang Redwood Limited (ESR), a pan-Asia logistics real estate developer, owner and operator, announced that the two companies have signed definitive agreements for SK to invest 374 billion Korean won (US$333 million) for a 10% fully diluted stake in ESR.

The transaction marks SK's first investment in the logistics real estate sector and its largest ever minority investment. Upon closing, the transaction is expected to generate significant synergies between ESR and SK and will help ESR to further enhance its market leading position in the logistics real estate sector in South Korea and across the Asia-Pacific region.