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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 |
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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