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[Alpha Biz= Kim Jisun] South Korean fresh food overnight delivery company Oasis has signed a conditional investment agreement today (March 6) to acquire TMON, an e-commerce platform currently undergoing corporate rehabilitation procedures.


On March 4, TMON submitted a request to the Seoul Bankruptcy Court to designate Oasis as the conditional preferred bidder for a pre-approved acquisition before the rehabilitation plan is finalized. With court approval, the two companies proceeded to sign the agreement.


The sale of TMON will proceed through an open bidding process, managed by EY Hanyoung, the sale advisor. A public auction notice is expected to be issued next week, with the final buyer to be determined next month.


While the acquisition price proposed by Oasis remains undisclosed due to a confidentiality agreement, industry sources estimate it to be around 20 billion KRW (approximately $15 million).


Even if another bidder offers better terms during the open auction, Oasis retains the right of first refusal, allowing it to match the highest bid and secure the acquisition of TMON.

 

 

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