D'Ocean Asset Management has signed a stock purchase agreement to acquire SK Ecoplant's controlling 35.62% stake in SK Oceanplant for 410 billion Korean won, or approximately $299.9 million. The deal covers 22,256,969 shares and values SK Oceanplant at approximately 1.15 trillion won on an enterprise-value basis. D'Ocean, a private equity fund manager founded by associates of former STX Group Chairman Kang Duk-soo, was selected as preferred bidder last September. Osung Advanced Materials is participating as the strategic investor after joining the consortium following the collapse of its earlier K Shipbuilding bid. Negotiations were delayed by opposition in Goseong County, South Gyeongsang Province, but the agreement was signed after the exclusive negotiation period was extended six times. SK Ecoplant plans to use the proceeds to repay debt and strengthen its semiconductor and AI infrastructure businesses. D'Ocean plans to invest in SK Oceanplant's Goseong Yard 3, expand production facilities, automate lines and improve ties with the local community. SK Oceanplant's second-quarter revenue fell 29.1% year on year to 170.48 billion won, while operating profit rose 14.7% to 19.34 billion won.