Eugene Asset Management consortium (Lotte Shopping as FI) to acquire 93.9% of Joonggonara
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- 93.9%
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Joonggonara · Second-hand trading platform
- Buyer
- Eugene Asset Management consortium (Lotte Shopping as FI) · FI
- Seller
- —
- Structure
- —
- Announced
- Mar 23, 2021
- Closed
- —
- Stage
- Announced
Target
Joonggonara, started as a Naver cafe in 2003, is Korea's oldest second-hand trading platform with about 23 million members and over KRW 5tn in transaction volume in 2020.
Deal rationale
Lotte Shopping, participating as a financial investor, said it judged the second-hand market to be growing and promising in Korea (Newstomato); iN THE NEWS reported the decision reflected the market's growth into mainstream consumer culture. Control rests with lead acquirer Eugene Asset Management. Reports said the sale covered about 60% held by CEO Lee Seung-woo and others plus institutional stakes such as Blue Partners, and that Eugene had been expanding alternative investments. No seller rationale was found.
Press coverage
- 뉴스토마토 (2021-03-23): “인수 거래 금액은 총 1000
1100억원 수준이며, 롯데쇼핑이 200억300억 정도를 투자한다” - 인더뉴스 (2021-03-23): “유진자산운용이 중고나라 지분 93.9%를 인수하는 과정에 재무적 투자자로 참여하기로 했습니다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.