[Provided by SSG.com]
[Provided by SSG.com]

Shinsegae Group will acquire all shares in its e-commerce platform SSG.com held by financial investors, giving the group full ownership as it moves to restructure the business and improve operational efficiency.

E-mart and Shinsegae each held board meetings Thursday and disclosed they had decided to jointly acquire the entire stake held by SSG.com's financial investor, Olympus First Co.

Under a shareholder agreement signed in November 2024, the two companies held call options on the 30 percent stake owned by the financial investor.

With the exercise window set to open at the end of August, E-mart and Shinsegae plan to acquire the financial investor's shares in proportion to their existing holdings. E-mart will pay 827.5 billion won (approximately $544 million), while Shinsegae will pay 443.6 billion won.

After the transaction closes, E-mart and Shinsegae will hold 65.1 percent and 34.9 percent of SSG.com, respectively.

The two companies said the purpose of exercising the call options was "strategic restructuring of the e-commerce business and management efficiency improvement."

Shinsegae Group said it plans to strengthen SSG.com's long-term growth potential and pursue greater operational efficiency now that it will hold a 100 percent stake.

"Going forward, we will strengthen SSG.com's platform capabilities and business expertise with the goal of increasing the corporate value of listed parent companies, including E-mart and Shinsegae," the group said.


spa@heraldcorp.com