G market building (photo = G market)

 

[Alpha Biz= Reporter Kim Sangjin] eBay is set to sell its remaining 19.99% stake in Gmarket, which it had previously held.

However, eBay requested that Emart agree to allow the sale of this stake to a third party, and Emart accepted, effectively waiving its right of first refusal.

According to industry sources on Monday, eBay plans to sell its 19.99% share in Gmarket.

Emart, through its subsidiary Emerald SPV, acquired the remaining 80.01% stake in Gmarket from eBay Korea for approximately 3.4 trillion KRW on June 30, 2021.

Emart had the right of first refusal on the 19.99% stake being sold, but by agreeing to eBay's request to sell to a third party, Emart effectively gave up its right to purchase the shares.

 

 

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