It is evaluated that the success of the box office was successful by jumping into the preliminary bidding for eBay Korea, as well as Shinsegae and Lotte, telecommunications companies, and MBK Partners, a private equity firm.
According to industry sources on the 16th, Morgan Stanley and Goldman Sachs, the organizers of the sale of eBay Korea, closed preliminary bidding late this afternoon. Participating companies are known as Shinsegae, Lotte, SK Telecom, and MBK Partners. Kakao did not participate in the preliminary bidding, contrary to what was initially known.
It seems that eBay officially announced the sale of eBay Korea in January, and then offered 5 trillion won as an expected sale price. This is a condition for the sale of 100% of the stake.
A company that embraces eBay Korea will quickly become an e-commerce powerhouse comparable to Naver and Coupang. For this reason, major distribution companies, Shinsegae and Lotte, were mentioned as promising candidates for the acquisition.
If Shinsegae acquires eBay Korea, it can expand its business to the open market. Shinsegae has tried to introduce an open market to strengthen its product assortment, but there was no such thing as a result. When Shinsegae embraces eBay Korea, it can be said that all e-commerce portfolios are completed.
In particular, the Dongtan distribution center built by eBay Korea for smile delivery can be said to be attractive to Shinsegae. Rather than investing additionally in the logistics center Neo, you can utilize eBay Korea’s infrastructure. The eBay Korea structure itself, which has already ended cost-effectiveness and generates stable operating profits, may be less burdensome.
In the case of Lotte, it is expected that Lotte On, which was launched ambitiously, will be able to seriously consider the acquisition of eBay Korea without actually producing satisfactory results. Last year, the transaction amount of Lotte On was 7.6 trillion won, an increase of 7% compared to the previous year. It contrasts with e-commerce companies that have achieved double-digit growth with Corona 19.
If Lotte takes over eBay Korea, you can quickly become a prominent player in the e-commerce market. It is also an opportunity to get rid of the sluggish performance at Lotte On. However, there are still question marks about the investment potential due to the deteriorating earnings of the offline business unit.
Kakao, an IT company, and SK Telecom, a telecommunications company, are also mentioned as candidates for acquisition. This is because Kakao has the potential to expand its commerce business by acquiring eBay Korea. However, according to the industry, Kakao did not convey his intention to participate in the preliminary bidding to Morgan Stanley and Goldman Sachs. An official from Kakao said that it is difficult to confirm the participation in the acquisition of eBay Korea.
SK Telecom is also considering the acquisition of eBay Korea in order to increase the capabilities of 11th Street and secure competitiveness in the e-commerce market. SK Telecom has 11st as a subsidiary, and announced a partnership with Amazon last year for commerce growth. An official from SK Telecom said, “We reviewed to strengthen our competitiveness in order to provide better services to customers in the e-commerce field.” Said.
Related Articles
SKT participates in preliminary bidding to acquire eBay
Preliminary bidding for eBay Korea… Who should I go to
EBay Korea Preliminary Bid D-1… Will the box office succeed?
Kakao also participated in the acquisition of eBay Korea… Plate gets bigger
Meanwhile, it is expected that many companies have participated in preliminary bidding for eBay Korea due diligence. This bidding is expected to be held in May.
An industry insider said, “Preliminary bidding is not binding, and it is natural to participate in order to take a look through due diligence in advance even if eBay Korea is sold to any company.”