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Shinsegae Group Chairman Chung Yong-jin. (Photo=Shinsegae Group) |
[Alpha Biz= Reporter Kim Jisun] SSG.com, Backed by Shinsegae Group, Finds New Investor to Take Over Existing Stake by Year-End
Shinsegae Group announced on the 14th that E-Mart and Shinsegae will enter into a new shareholder agreement with SSG.com’s latest investor, Olympus No.1 SPC, a special-purpose company (SPC). This new investor is a consortium comprising six banks, including KDB Industrial Bank and Shinhan Bank, along with four securities firms, such as NH Investment & Securities.
Olympus No.1 SPC will acquire a 30% stake in SSG.com, previously held by the existing financial investors (FIs). The transaction amount for this shareholder agreement is 1.15 trillion KRW, with the share transfer scheduled for the 26th.
In June, E-Mart and Shinsegae had agreed to ensure an exit for the FIs, Affinity and BRV Capital, by facilitating the sale of 1,316,492 shares of SSG.com’s common stock, owned by these FIs, to a third party designated by E-Mart and Shinsegae by the end of the year. Since then, E-Mart and Shinsegae have been actively seeking a buyer for the existing FI stake.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
