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SSG.com headquarters. (Photo courtesy of SSG.com) |
[Alpha Biz= Kim Jisun] SEOUL, June 12 — Shinsegae Group will acquire full ownership of its e-commerce platform SSG.com by buying out all shares held by financial investors, in a deal worth 1.27 trillion won ($1 billion).
According to a regulatory filing on June 11, Emart and Shinsegae will jointly purchase the entire stake held by Olympus First Co., a special purpose entity backed by multiple banks and securities firms.
Upon completion, Emart and Shinsegae will hold 65.1% and 34.9% of SSG.com, respectively, making it a wholly owned subsidiary of the group. The transaction is expected to close on Aug. 26.
Emart will acquire approximately 857,000 shares for 827.5 billion won, while Shinsegae will purchase about 459,000 shares for 443.6 billion won.
The buyout follows a shareholder agreement signed in November 2024, under which Shinsegae Group secured a call option to purchase the 30% stake held by financial investors after 18 months. With the option now exercisable, the group has decided to proceed with the acquisition.
By removing external investors and simplifying its ownership structure, Shinsegae aims to strengthen SSG.com’s growth and accelerate decision-making as competition intensifies in the e-commerce sector.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
