Goldman Sachs Moves to Acquire Control of Tmap Mobility
Global investment bank Goldman Sachs is moving to acquire control of Tmap Mobility, the operator of Tmap, South Korea's No. 1 navigation service.
According to investment banking industry sources on October 29, SK Square, Tmap Mobility's largest shareholder, is negotiating with Goldman Sachs with the aim of selling control of the company by the end of the year. SK Square holds a 63.23% stake in Tmap Mobility.
Goldman Sachs is reportedly also considering acquiring stakes held by major financial investors (FIs), including Ssenta Mobility Investment Purpose Company and Terameter Holdings, in addition to SK Square. However, SK Square will retain part of its stake rather than sell all of its holdings, and continue its cooperation in artificial intelligence (AI).
Goldman Sachs is reportedly aiming to secure a 60% to 70% stake in Tmap Mobility by investing approximately KRW 700 billion to KRW 800 billion.
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A SK Square official said, "We are reviewing various options for Tmap Mobility's future growth and will share details once they are finalized."
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