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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] E-Mart has decided to increase its buyout price for Shinsegae Food by 30% above the reference market price, following criticism from minority shareholders.
The revised purchase price is set at KRW 63,348, up KRW 14,619 from the previous reference price of KRW 48,729.
E-Mart said the decision came after further review aimed at better protecting general shareholders following recent investor meetings.
The company is pursuing a voluntary delisting of Shinsegae Food to simplify its ownership structure and eliminate dual listing, with plans to make it a wholly owned subsidiary through a share exchange.
Under the plan, E-Mart will acquire 1.04 million shares (26.91%)—excluding treasury shares and its existing holdings—in exchange for E-Mart stock.
The price hike comes in response to complaints that the initial valuation undervalued Shinsegae Food.
Separately, E-Mart also disclosed potential brand risk related to SCK Company, citing public backlash over a controversial promotional campaign. The company warned that the issue could negatively impact consumer perception, brand reputation, and future business performance.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
