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EBAY eBay Inc

53.06
1.14 (2.20%)
After Hours
Last Updated: 23:04:02
Delayed by 15 minutes
Share Name Share Symbol Market Type
eBay Inc NASDAQ:EBAY NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.14 2.20% 53.06 52.79 53.03 52.93 52.00 52.10 6,815,494 23:04:02

E-Mart to Buy eBay's South Korean Unit for $3 Billion

24/06/2021 9:28am

Dow Jones News


eBay (NASDAQ:EBAY)
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From Mar 2021 to Mar 2024

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   By Kwanwoo Jun 
 

E-commerce platform eBay Inc. agreed to sell an 80.0% stake in its South Korean unit to retailer E-mart for about $3.0 billion, the companies said Thursday.

eBay said the deal valued its unit, which runs G-market, IAC and G-9 online markets, at $3.8 billion. The San Jose, Calif.-based company said it would still retain a 19.99% stake in its South Korean unit after the transaction.

E-mart, a retailer affiliated with the Shinsegae Group conglomerate in South Korea, said in a regulatory filing that its board had confirmed the agreement.

eBay's South Korean unit is the country's third-largest e-commerce business after Naver and Coupang Inc.

E-mart, a late comer to the e-commerce business, would become the second-largest e-commerce business in South Korea if it is combined with eBay's operations in the country, analysts said.

 

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

 

(END) Dow Jones Newswires

June 24, 2021 04:26 ET (08:26 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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