US EditionNaver Confirms to the South Korean Stock Exchange the Purchase of Wallapop After Taking 70.5% for 377 Million
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11 Articles
The South Korean multinational Naver has transferred to the South Korean Stock Exchange the purchase of Wallapop after taking 70.5% for 604.5 million won (about 377 million euros).In particular, Naver carries out this corporate movement with the aim of securing a "strategic platform", as well as a user base that serves to develop its business in Europe, since it considers that the second-hand trading platform, valued at about 535 million euros d…
The South Korean internet group Naver has informed the South Korean stock exchange authority that it has decided to acquire the Spanish start-up for the sale of second-hand products Wallapop. The firm notes that, in order to achieve this, it will invest 377 million euros (604.5 million KRW), which will allow it to obtain an additional 70.5% stake in Wallapop. The company was already the majority shareholder. Thus, the valuation of the company, a…
The European technological landscape has witnessed one of the most significant operations of the year: the South Korean giant NAVER has confirmed the total acquisition of the Spanish platform of second hand sale Wallapop, in a movement valued at 377 million euros. This transaction not only consolidates the control of NAVER on a [...] The entry NAVER acquires Wallapop in a strategic purchase of 377 million euros aparece primero en Forbes España.
The operation led by JPMorgan "has the support of the vast majority of shareholders", including the Insight, Accel, NEA, Northzone and ICO funds.
Wallapop has announced the closing of its sale to the group Naver, a giant of Internet of South Korea. Through the European society Korelya Capital, this Asian conglomerate already controlled 29.5% of the Catalan company and the agreement contemplates the acquisition of 70.5% that was missing several shareholders, most investment funds.Continue reading...
[Digital Daily Reporter Yoo Chae-ri] Naver has signed a contract to acquire Wallapop, Spain's largest consumer-to-consumer (C2C) platform. According to the Financial Supervisory Service's Electronic Disclosure System on the 5th, Naver has decided to acquire an additional 70.5% stake in Wallapop by investing approximately KRW 604.5 billion. With this acquisition, Naver's total shares acquired will reach 85,215,970, based on domestic disclosures. …
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