Shinsegae Group Chairman Chung Yong-jin. (Photo=Shinsegae Group)

 

[Alpha Biz= Reporter Kim Jisun] Shinsegae Group is considering acquiring a 30% stake in the online commerce service SSG.com through domestic securities firms.

According to the financial investment and distribution industries on the 18th, Shinsegae Group is examining the plan to purchase 1,316,492 common shares of SSG.com held by external financial investors (FIs) in collaboration with major domestic securities firms.

The stake in question is currently held by Affinity Equity Partners and BRV Capital, with the acquisition value estimated to be around 1 trillion won.

Earlier this month, Shinsegae Group agreed with the FIs to sell this 30% stake to a third party to return the investment funds to the FIs.

The market has been keenly watching who will buy this substantial stake in SSG.com, and a 'consortium' of major domestic securities firms has emerged as a potential solution.

The current proposal under consideration is said to be similar to a 'loan' structure through multiple securities firms. Instead of Shinsegae directly purchasing the stake, the securities firms would provide the funds, and Shinsegae would pay a sort of interest while assuming the risk of the acquisition.

It is reported that Shinsegae Group is in preliminary discussions with several major securities firms, including NH Investment & Securities, KB Securities, and Korea Investment & Securities, regarding this plan.

Affinity and BRV Capital acquired a 30% stake in SSG.com through two rounds of investment totaling 1 trillion won in 2019 and 2022.

 

 

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