Emart (Shinsegae Group) acquires 80.01% of eBay Korea for KRW 3.44tn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $2.4bn
- Stake
- 80.01%
- Implied 100%
- $3.0bn
- Revenue
- $897m
- Op. income
- $59m
- Multiples
- EQV/EBIT 50.6xPSR 3.3x
Deal value ÷ stake (structure unconfirmed)
2020 · Multiple reports agree
2020 · Multiple reports agree
On implied equity value
- Target
- eBay Korea · E-commerce marketplace
- Buyer
- Emart (Shinsegae Group) · SI
- Seller
- eBay Inc.
- Structure
- —
- Announced
- Jun 24, 2021
- Closed
- Nov 15, 2021
- Stage
- Closed
Target
eBay Korea operates the Gmarket, Auction and G9 marketplaces with about 2.7 million paying members; it was reported to have roughly KRW 20tn in 2020 GMV (third after Naver and Coupang) and 16 consecutive profitable years since 2005.
Deal rationale
Emart CEO Kang Hee-seok said the deal would reshape the whole retail market, not just online, and Vice Chairman Chung Yong-jin said the decision criterion was what could be built, not the price. Shinsegae framed it as the start of a group-wide shift to online and digital, pledging over KRW 1tn in fulfillment centers over four years and using stores as online logistics hubs; online would become about 50% of the Emart segment.
| Revenue | $897m |
| Operating income | $59m |
| EBITDA | — |
| Net income | — |
2020 · Multiple reports agree (not yet checked against DART)
Press coverage
- 경향신문 (2021-06-24): “이베이코리아 지분 80.01%를 3조4404억원에 인수하기 위한 지분 양수도 계약(SPA)을 체결할 예정이라고 공시했다”
- 뉴시스 (2021-11-11): “아폴로코리아 유한회사 지분 80.01%를 취득할 예정이며, 취득가액은 3조5591억원이다”
- 비즈워치 (2021-02-23): “국내 주요 이커머스 업체 중 유일하게 흑자 기조를 이어가고 있다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.