Shinsegae Group Acquires Entire 30% FI Stake in SSG.com... Emart and Shinsegae Establish Full Control

Emart and Shinsegae Exercise Call Option, Acquire Entire FI Stake
SSG.com Ownership Restructured to 65.1% Emart, 34.9% Shinsegae
Focus on Strengthening Platform Competitiveness

Shinsegae Group has acquired the entire stake held by the financial investor (FI) in SSG.com.

Chong Yongjin, Chairman of Shinsegae Group.

On June 11, Emart and Shinsegae each held a board meeting and announced their decision to jointly acquire the entire 30% stake in SSG.com held by its financial investor, Olympus Jeil-cha.

This acquisition is in accordance with the shareholders' agreement signed in November last year. Under the agreement, Emart and Shinsegae held a call option to purchase the entire stake owned by the FI. With the exercise period now reached, they have decided to exercise this right.

The two companies plan to acquire the investor's shares in proportion to their current ownership ratios. Accordingly, Shinsegae will acquire 459,456 shares for approximately KRW 443.6 billion, and Emart will acquire 857,036 shares for approximately KRW 827.5 billion.

Once the transaction is completed, SSG.com’s ownership structure will shift from the previous 45.6% for Emart, 24.4% for Shinsegae, and 30% for the financial investor, to 65.1% for Emart and 34.9% for Shinsegae. The financial investor's stake will be fully eliminated.

With this call option exercise, Shinsegae Group aims to simplify SSG.com's governance structure and enhance management efficiency, while also focusing on strengthening its platform competitiveness and laying the foundation for future growth.

Looking ahead, Shinsegae Group plans to enhance the business expertise and platform competitiveness of SSG.com, with the goal of increasing the corporate value of its listed holding companies such as Emart and Shinsegae.

This content was produced with the assistance of AI translation services.