bullish
SK Square: Drag Along Rights To Be Exercised to Sell 11 Street + Merger of TVing and Wavve
660 Views30 Nov 2023 01:35
SK Square announced it will not exercise the call option to repurchase minority stake in 11 Street. This is likely to have a positive impact on the company.
Boomeranged on Tue, 9 Jan 2024 01:39
According to Chosun Business Daily, the financial investors (Nile Holdings Consortium) want to sell 11st at about 600 billion won (100% stake), using drag along rights. Currently, Nile Holdings consortium has an 18.2% stake in 11st and SK Square has 80.3% stake. Potential acquisition candidates of 11st include Qoo10, Amazon, and Alibaba. Citi and Samjong KPMG are the bankers on this deal.
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