# Scana sells 49% stake in Scana Korea Hydraulic joint venture to partner

Scana ASA, through subsidiary Scana Valve Control, agreed to transfer its 49% stake in the Korean joint venture Scana Korea Hydraulic to SKH for about NOK 40 million, with closing expected in Q2 2023, alongside a new strategic cooperation agreement with Skarpenord.

- Type: Acquisition
- Announced: 2023-05-02
- Where: Korea, South Korea
- Value: $3.70M (40.0M NOK)
- Status: announced
- Products: valve control systems
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Skarpenord](https://endata.com/companies/7552.md)
- [Incus Investor ASA](https://endata.com/companies/620.md) (partner)
- [Scana Korea Hydraulic](https://endata.com/companies/10533.md) (target)

## Sources

- [skarpenord.no](https://skarpenord.no/news/scana-sells-its-shares-in-scana-korea-hydraulic-and-continues-cooperation-with-partnership-agreement/), 2023-05-02: "The purchase price of approx. NOK 40 million will have a positive effect on Scana's cash flow"

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