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Comprehensive stock exchange between Shinsegae, E-Mart, and Naver

2021-03-16

Lee & Ko advised on the KRW 250 billion (USD 222 million) share-swap transaction between Naver and Shinsegae Group. Through this transaction, Naver acquired KRW 100 billion stake in Shinsegae International and KRW 150 billion stake in E-Mart, while E-Mart and Shinsegae, respectively, acquired KRW 150 billion and KRW 100 billion worth of Naver's treasury shares. Based on this mutual share ownership, the parties will strengthen their business partnership relationship in expanding online and offline retail businesses, strengthening logistics competitiveness, finding new services based on new technologies, and growing small and medium-sized sellers. Lee & Ko effectively advised on this transaction and led it to a successful closing on March 16, 2021. 

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