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[Alpha Biz=(Chicago) Reporter Kim Jisun] The sale of VCNC, the operator of mobility service Tada, has finally collapsed.
Tada's parent company, Viva Republica, said on the 7th that it has decided not to sell Tada to The Swing, a candidate for the acquisition. Viva Republica said, "The Swing was a strong candidate for the acquisition of Tada, but after reviewing it in various aspects, we did not conclude that it was the best human resource investigation agency."
Viva Republica plans to run Tada on its own for the time being and continue the sale.
The Swing, the operator of the shared electric kickboard "Swing," agreed last month to acquire a 60% stake in Tada's management rights held by Viva Republica. The corporate value based on a 100% stake is known to be around 40 billion won. The acquisition price of the stake, including the management premium, is estimated at about 24 billion won.
However, it was reported that the sale eventually broke down as negotiations between The Swing and Socar (40% stake), the second-largest shareholder of VCNC, failed. Socar is said to have proposed to The Swing a 7 billion won loan to VCNC, a stake in The Swing, which is equivalent to interest, and a right to attend the board meeting. The conflict grew as The Swing refused to accept it. Tada's parent company, Socar, sold its management rights to Viva Republica in 2021.
Jin Mobility, which runs 'IM Taxi', also announced its intention to acquire VCNC in January, but withdrew it in June.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
