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[Alpha Biz= Kim Jisun] E-Mart has acquired the overseas entity "Asia Legend Capital Limited."


According to E-Mart's business report on Thursday, the company purchased a 99.9% stake in Asia Legend Capital on December 16 of last year.


Asia Legend Capital is located in the British Virgin Islands.


As of the end of last year, its asset size was approximately 470 billion KRW, and it is classified under "Other Financial Services."


E-Mart owns 63.21% of the shares in the company, while the remaining 36.78% is held by "Emerald SPV," a special purpose company fully owned by E-Mart.


An E-Mart representative stated, "The acquisition is for the purpose of investment in overseas retail business."


Meanwhile, Emerald SPV was established by E-Mart in June 2021 to acquire the e-commerce platform Gmarket.


E-Mart disclosed on February 25 that it would absorb Emerald SPV through a merger, which will take effect on May 31.

 

 

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