Emart To Acquire Majority Stake eBay's Korea Businesses For $3B

Anusuya Lahiri

Thu, Jun 24, 2021, 6:20 AM1 min read

In this article:

Emart inked an agreement to acquire an 80.01% stake in eBay Inc's (NASDAQ: EBAY) Korean businesses for $3 billion.
Over the next four years, Emart plans to invest over 1 trillion KRW in fulfillment centers.
Offline stores will also serve as fulfillment centers, reinforcing Shinsegae Group's supply chain management system.
During FY20, eBay's off-platform businesses in Korea contributed over $14 billion in GMV, and $1.4 billion in revenue, with operating margins in the mid to high single-digit range.
The transaction is likely to close by the end of 2021 or early 2022, subject to regulatory approvals.
Recently, the Austrian competition watchdog approved Norway's Adevinta ASA's (OTC: ADEVF) acquisition of eBay Inc's Classifieds Group.
Price action: EBAY shares closed higher by 0.63% at $65.3 on Wednesday.

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