# SK global chemical to acquire 10% stake in Loop Industries and form joint venture

SK global chemical will acquire a 10% equity stake in Loop Industries for $56.5 million and form a joint venture to build Infinite Loop facilities in Asia. SKGC will own 51% of the JV, with Loop holding 49%. The JV aims to construct four facilities by 2030.

- Type: Acquisition
- Announced: 2021-06-23
- Where: Bécancour, Québec, Canada
- Value: $56.5M
- Status: announced
- Capacity: 400,000 tons of PET plastic annually
- Products: recycled PET plastic
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Loop Industries](https://endata.com/companies/4019.md) (target)
- [SK Global Chemical Co.](https://endata.com/companies/21935.md) (investor)

## Sources

- [stocktitan.net](https://www.stocktitan.net/news/LOOP/sk-global-chemical-to-acquire-10-percent-equity-stake-in-loop-boeyb5wbvb47.html), 2021-06-23: "SK global chemical to Acquire 10 Percent Equity Stake in Loop Industries, Companies Announce Strategic Partnership to Bring Sustainable and Circular Plastics to Asian Market"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.